Jobs report. Interest rates. Hometown Hero's. NAR rules.

Episode Transcript

Speaker 1 (00:14):
Navigating today's real estate market can be tricky. Wanta buyer,
soela house finance, or insure a house, or stuck with
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Speaker 2 (00:31):
Here are your.

Speaker 1 (00:32):
Hosts, Jim Depola and Johnny c You live on real Radio.

Speaker 2 (00:36):
Good Saturday morning, Welcome to another edition. It's Florida Talk
real Estate. We got you for the next two hours
of info tam and at least I hope. Thanks for
being out there. Let's see in nineteen one one on
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(00:57):
That's pretty fantastic. And we live stream on a Saturday
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(01:18):
joining in is toll free as well. If you'd like
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First voice, you'll hear the melodious stones of our producer, Extraordinair.
He's working hard right now. By the way, there's Jimythy,

(01:39):
my brother from another mother.

Speaker 3 (01:40):
Hello, Hello, and good morning, gentlemen. Happy Saturday. Glad to
be here with us.

Speaker 2 (01:44):
Up, dude, look at you out the gates. Boom boom
booming over there.

Speaker 4 (01:47):
Yeah, that's boom boom boom Johnny.

Speaker 2 (01:49):
Boom boom, boom boom. Always a pleasure, my friend. Good
to see about. Oh yes, good to see you too, Johnny.
That's me, Johnny C, your old buddy, your old pal.
You're Air traffic Control. Let's get your starting line up
on a Saturday morning. We'll go straight to the top. Y'all,
our fear less leader. Thirteen plus years now, I've told
you he runs the top. Producing Keller Williams team, and

(02:09):
of course you can find him. It's the Florida Home
Pros team, Keller Williams Innovations. There's Jimmy d jim Depola.

Speaker 5 (02:15):
How you be, Hey, how do good? Johnny. We're having
some technical difficulties, but we're plying through it. So how
are you doing today?

Speaker 2 (02:25):
I'm, you know, another beautiful Saturday morning, as I told Jimothy,
getting ready for a little Florida talk for real estate.
It's pretty pretty all right, We're blessed with another chance,
so let's get her done.

Speaker 5 (02:35):
Yes, yeah, so I don't know, did Jimmy, did you
just do that?

Speaker 2 (02:38):
Yeah?

Speaker 5 (02:39):
Awesome, that's kind of what I.

Speaker 4 (02:40):
Wanted, more of the Brady Bunch way we normally are.

Speaker 5 (02:43):
Yeah, I don't know how you just did that, but
thank you.

Speaker 2 (02:46):
We're dealing with stream stuff.

Speaker 5 (02:47):
Yeah, that technical stuff. Hey, it's a unique show because
it's gonna be me, Johnny and Jimothy today, So any
calls today would be greatly appreciated. We'd love to see
if you can stump us all us and ask guys
any questions you have about real estate, what's happening in
the market down here, and if you're thinking of selling

(03:08):
and buying, or you're an investor, you know, give us
a call and ask us questions. You have questions about
insurance or refis or mortgages, interest rates. We do have
a lot of kind of newsy stuff to talk about today,
Johnny Cool. You know I always call us. You know
that we're pretty wonky on this show, meaning you know,
we do talk, you know, when the new Consumer Price

(03:31):
Index comes out, or the price consumer the PCEE comes out, right,
and the job reports and we talk about what's going
up or down in inflation. We've been doing that for
years and years, but rarely has these wonky reports that
we try to gauge where we are in the market
at any given time been more controversial than the last

(03:53):
forty eight hours, right, talking about the labor statistics report
that just came out, Sure, and it really affected the
interest rates yesterday. We've been for the market too.

Speaker 2 (04:04):
I mean there's a lot of reaction to it.

Speaker 5 (04:07):
Yes, interestingly, and you know everybody's asking for an interest
rate cut and they still don't get it. I had
a guy, a longtime listener on the show, a guy
named Jay. He called me about a question about something
about his house and we started talking about what's going
to happen in the future with interest rates, and he
started talking about how the FED was going to cut
the rate, and you know, whether it was going to

(04:29):
be a quarter point or half a point or whatever.
And then he started twaiting, No, this is early last week,
before before the you know, before the July meeting, right
And I told him I didn't think they were going
to cut. But he was actually taking what he was
reading in the news about the quarter point cut or
half point cut with the FED, and then subtracting it

(04:52):
over what the average interest rate right right now is
for mortgage.

Speaker 2 (04:55):
Oh, wouldn't that be amazing If that was the case,
I'd be like, cut that rate.

Speaker 5 (05:01):
Exactly. So he was thinking in his mind that we're
so in his mind, he was thinking six point seventy
five is like pretty much the Fanny Main average right now.
So if the FED cuts the rate or quarter point,
we're gonna be down to six and a half. And
I'm like, it doesn't work that way, And people don't
get that. They still and I get it. You know,

(05:25):
if you're not doing this for eleven, it's just another
headline that flies through your you know, flies across your
screen a million times a day, and you know, most
people don't get in the weeds on it, and all
they do is read the highlights, which is usually the headline.
And usually the headlines are wrong. I hate to say
that because I used to be in media, But the
headlines there's so misleading where they they compare the FED

(05:49):
rate to the mortgage rates and they have it like
a direct correlation that one.

Speaker 2 (05:54):
Never mentioned home buying or buyers or any of that
when they're talking about the FED rate, and a lot
of headlines will morph those things and it's like, what
are you doing? Why are we doing that?

Speaker 5 (06:04):
And it confuses the public so bad, right, it makes
it so confusing from so I get where Jay's coming from.
Not making fun a Jay. I'm just saying these are
normal things that people think.

Speaker 2 (06:14):
Anybody saying, Bob.

Speaker 5 (06:16):
Ye, it could be year, anybody right exactly, which is
pretty good.

Speaker 2 (06:22):
It's nice guy, it's true. So I think it's.

Speaker 5 (06:28):
So let's talk about that, just real, uh real quickly.
We're going to talk a little bit about the unemployment rate.
I've been saying on this show for years and years now,
if you want to, if you because how many I mean,
ever since the crash happened, people have proticting the next crash. Right,
it's right around the corner. It's right around the corner.
Hasn't come. It's been ten years, it just hasn't come.

Speaker 2 (06:50):
Right.

Speaker 5 (06:51):
And what I keep saying is the number one indicator
of whether we're going to have that type of crash
again would be unemployment. If we get unemployment in my
I mean, I'm making this number up, this part I'm
making up in my head, but I'm thinking sixes. When
we get into the sixes, that's about two million jobs
lost for unemployment. Yeah.

Speaker 2 (07:12):
From that point, we're talking about how can people pay
their mortgages?

Speaker 5 (07:14):
Right Exactly, there's.

Speaker 2 (07:16):
A big lump of people that won't be able to
pay their mortgages. That's that's a that's a crisis.

Speaker 5 (07:20):
And that's what happened last time, right, And that's what
happened last time. Now, last time it was mostly because
of dirty mortgages, right, And a lot of the homeowners
had culpability in that because they took the dirty mortgages.

Speaker 2 (07:34):
And again in that it was very almost predictable. I know,
predictable is a hard way to really say it because
you're like, well, then why didn't But it was pretty soularly,
like how is it? This is propped up by okay,
interesting this is See how long this last? And the
answer is not very long.

Speaker 5 (07:52):
And it was so funny because when that was starting
to crash, I'm talking now five six, like.

Speaker 2 (07:59):
That time housing market.

Speaker 5 (08:00):
Of course, if you know everybody but everybody thinks it's
a weight O nine, right, because that's when the bailouts
started happening, and you know, and the federal government really
got heavily involved. But really it was.

Speaker 2 (08:12):
That's that then we started getting into too big to fail,
Like that's when we were bailing out the banks. We're
talking about the housing market, and.

Speaker 5 (08:18):
That was more O LA five radio six, and then
it just got worse and worse for years and years.

Speaker 2 (08:24):
And it turns out, I mean, not to get convoluted,
but I remember railing on the radio. You know, my
opinion was, we can't bail everybody out like this turns
out it kind of worked out. I mean, I guess
they did the right thing. You know, when it washes
out in the end, it looks appears like it was
the best decision. But I know, in the moment I
was like, oh man, why are we doing this?

Speaker 3 (08:43):
It's hard to tell, you know, what would have happened
if that's where I was at. Had we let the
let's find out fail the way you know, like capitalism.

Speaker 2 (08:54):
Is supposed to supposed to work.

Speaker 4 (08:55):
What would have come out of that?

Speaker 2 (08:57):
How does that wash out?

Speaker 4 (08:58):
And you don't know? I mean no, they can I
mean you can kind of speculate.

Speaker 2 (09:01):
Well, the crab, the crab always rises at the top, right,
It just that always floats up, And that would be
the one percent the money. It's just it would have
been there in the end. But at what at what level? Right?

Speaker 5 (09:14):
And and and.

Speaker 2 (09:15):
It would have been an interesting experiment for sure.

Speaker 5 (09:18):
I was I was in favor of the of the
bailouts back then. I didn't like the way the ballots
were created because they were bailing out the banks, and
I think they should have bailed out the people, sure,
because the people. Even though that the people were a
lot of them were culpable and you know, responsible for
the decisions to make. They signed these crazy mortgages when
they knew they didn't really have the income to afford

(09:42):
that house and that house and that house that they
had under contract, plus the house they were living in,
and they were riding it all on black right. They're
putting it all on black right, and they're just like, hey,
uh yeah yeah. And the lenders gave them the opportunity
to do it, but nobody forced them to sign the documents,
so there was culpability. But out of the two ways,

(10:05):
it would have been much better in my mind, to
save the people and allow them to stay in their house.
It would have been really easy. That guyra Ira what
was IRA's last name? I can't remember.

Speaker 2 (10:18):
Ira. It's not ringing a bell.

Speaker 5 (10:19):
Rosenberg. He was one of our first mortgage brokers on
the show.

Speaker 2 (10:26):
Mortgage. Why does that sound like?

Speaker 5 (10:29):
Yeah, Ira, I think I think it was Rosenberg. He's
a really nice guy. He's still a mortgage He still
own some mortgage coming down in Boca.

Speaker 2 (10:37):
I think, right.

Speaker 5 (10:38):
But he used to be before he owned his own
mortgage company down here in Boca. He used to be
the the the regional director for Countrywide for the you know,
for the east of the Mississippi, like the whole area.
And he wrote a white paper right before he left.
This is before the crash, and he predicted this was

(10:59):
going to crash.

Speaker 2 (11:00):
Because Wide was very much implicated in a lot of that.

Speaker 5 (11:03):
And what he recommended in that white paper is that
they took any mortgages that were written to refine by
at a certain date or later, that all those they
would come the bank at the bank's costs, would come
out with an appraiser, determine the current appraise value that home,
and automatically reset that mortgage to the to that moment's appraisal.

(11:26):
That would have shaved off like ten percent at the
time or fifteen percent of the losses people were dealing with.

Speaker 2 (11:33):
It might not have been enough, but it would have been.
That's that's what should have happened.

Speaker 5 (11:36):
Like it's opposed to giving it to the banks, right, right.

Speaker 2 (11:39):
Try to make it so people they.

Speaker 5 (11:40):
Wanted to lose their host, well, they wanted.

Speaker 2 (11:42):
That's why they signed it. They want to make a
mortgage fame in every month they have been Now, just
put it back to where they can afford it again,
and they'll continue to do that or don't, and we
can I guess and what and.

Speaker 5 (11:56):
So what happened is the bankers and a lot of
other people were arguing back in the day and you know,
we're really turning back time here. But They were arguing
back in the day that you can't just write contracts
with people and then just automatically rip up the contract
and set new terms. What kind of world would that be,
you know, And that's what the argument was, It'll be
total chaos. Nobody will ever believe in contracts again. And

(12:19):
I'm like, well, isn't that what you're doing with low
mods and short sales and Dean lou of foreclosures. You're
doing the same thing. Yeah, you're gonna say when.

Speaker 3 (12:28):
You went through all that process of being because that
was your specialty, right, that's what we did short sales.

Speaker 4 (12:35):
Isn't that pretty much?

Speaker 5 (12:37):
It's right. It's a reorganization of the debt, right, And
instead of just doing it as a blanket away saying hey, look,
we know we fed up I mean in the banks,
and that we wrote all these dirty mortgages and we
knew they couldn't make the money either, so let's just
go and reset all of them so that we can,
you know, solidify our foundation. That probably would have been

(12:58):
way better, but instead we spent billions and billions and
I don't want to say trillion, but maybe even a trillion.

Speaker 2 (13:04):
So they still get their foundations solidified. It's just not
in the way that it probably should have happened.

Speaker 5 (13:09):
And how much money and time and aggravation and unknown
stuff happened through all those cases. They had to go
by case by case by case. Here everybody's tail or well,
and then decide if they were worthy or not of
a short sell a loon mod a Dean lou of foreclosure,
you know that kind of stuff. So now what's happening
is is what's happening right now is that you know

(13:32):
it's For the last several months, the President and his
administration have been saying basically that they want the Fed
to cut the interest rates. The Fed hasn't wanted to
cut the interest rates. They did start cutting the interest
rates last year. People keep forgetting that, and when they did,
we had one of the fastest increases in interest rate

(13:53):
mortgage rate increases in the history of the United States.

Speaker 2 (13:58):
And the way it's being framed like, it's hard to
not kind of side with that thinking too, when it's
framed with look how much money it's costing the country
in paying our debt, So how much extra it costs
us to pay back our debt, which is almost insurmountable
at this point, right, that's a hard thing to not

(14:20):
get behind. You have to look way deeper into what
else happens if we change the rates and go, okay, well,
that's why we have to hold pat That would be
great if we could not have to spend way more
for our debt than we need to as a country,
especially if we can just instantly change that on our own.
That's it's just that's that lowest hanging fruit right there,

(14:45):
and you're like that, that's not the thing. We gotta
step back and look at this tree a little bit more.
Oh okay, that he can't do that. Look at the
tree is not as healthy as we want it to be.
That little piece of fruit looks like we should just
pick it, But oh man, the tree is not ready.

Speaker 5 (14:57):
And it gets even a little deeper. Because you know,
the US dollars the world currency. The reason why it's
the world currencies because we make monetary policy independent of
our needs of the United States.

Speaker 2 (15:11):
There's faith in how it's established.

Speaker 5 (15:14):
Right that we're doing it independently. So if we start
messing around with the interest rates because we want to
lower our debt, our debt, our debt, the rest of
the world's like, hmm, that doesn't sound like a country
that's in really good financial shape. If they have to
do that, They've never done that in the history since
after World War Two. They've never done it. And now

(15:35):
they're doing it. That's a big warning start.

Speaker 2 (15:37):
Should we be relying on the dollar as well?

Speaker 5 (15:39):
And then you hear about, like what I read in
the papers, Japan and Germany they're looking at like those currencies.
Japan's a big one right now. I laugh about Japan
because remember Japan in the eighties, they were the big ogres.
In the nineteen eighties, Japan was taken over everything, right,
we were all going to be eating Japanese food for
the rest of our lives, right according to people in

(16:01):
the eighties, and then they had like the lost decades
because their whole thing collapsed. Now people are going to
start thinking that Japan has a strong arconomy in the
United States that you know, I'm not saying it's true,
but if people's perceptions are that way, that is a
big telling thing about where we are right now. Now.
I'm not saying we're in a crash right now, Okay,
I don't want to say that we're crashing. But this

(16:23):
is all very interesting because we talk about these job
It's reports every month when they come out, but this
one is a big one. And this is what I've
been saying since the beginning of the year.

Speaker 2 (16:33):
And they do tie to more the housing markets. It's
a long train. We're one of the cars in that line.

Speaker 5 (16:40):
And right now, you know, the stock market overall has
been stronger than the housing market. And just because one
market strong doesn't mean all markets are strong. So you
could have a week this market is strong that when.

Speaker 2 (16:53):
You say strong, you're talking about fluidity. You're talking about movement. Well,
there's a ton of equity in the housing market. You
could view that as strength. You could, it's just not
very fluid.

Speaker 5 (17:04):
Well, it's not much when they're talking about they're talking
more about sales in the right.

Speaker 2 (17:09):
You're right, Well, it really depends on how you look
at it. It's a strong housing market. If you're like, man,
look at the equity that so many folks are. You
just can't tap it because who's going to do anything
to tap it right now unless you're selling it.

Speaker 5 (17:21):
I just read an article. I think I saved it
for later. But we'll talk about right now. There's eighty
six million homes in the country. I didn't know this.
I just read this. This is an estimate. Eighty six
million homes in the country. And out of eighty six million,
how many million do you think have no mortgages out
of the eighty six million properties residential properties? Gosh, at

(17:48):
least half, I'll say half, So fifty percent?

Speaker 2 (17:51):
Yeah, really that high, I think. So there's a lot
of people that just been in that same house for
so long.

Speaker 3 (17:57):
Well, there is a lot of that, a lot of
like family heredity where it's been passed out.

Speaker 4 (18:03):
I maybe twenty percent. I don't think it's that high, but.

Speaker 5 (18:08):
I don't I didn't know percentage, only no numbers. I'm
going to do the percentage right now. I asked percentage.
It's probably twenty million, thirty five percent, thirty five percent
of the homes thirty million out of eighty six million
have no mortgages whatsoever, thirty five between. There's like a
couple of trillion dollars of equity in there, just that

(18:31):
just those people alone, trillions.

Speaker 2 (18:34):
There's a ton of there's a ton of holding. You know,
we have to make our mortgage payment.

Speaker 5 (18:39):
Who still have So that's one that's one of the
reasons to say, like, you know that we're going to
have this housing crash and everything. You know, we're not
seeing it in the foreclosure short sale, right, We're not
really seeing it. And we've been saying that for a
very long time. But what makes this jobs report so surprising?

Speaker 2 (18:58):
And that's again we started this with, are you saying
the real in your mind? If we start seeing unemployment
become a problem, that's when you're going to start being like, oh, man,
housing market, let's pay attention.

Speaker 5 (19:10):
This is yeah. This is when I say slow, yeah,
And what I would expect then is that people would
have to sell their houses fast because if they couldn't
get reemployment, right, they couldn't get a job right away.
I'm assuming it's that kind of market, right, So you
can't get the job right away, so then you got
like three months to before you start getting in trouble
with your mortgage.

Speaker 2 (19:28):
All right, So with this jobs report.

Speaker 5 (19:31):
So this job's report, it came out, they expected about
one hundred and ten thousand jobs. That's what I read
the day before it came out, seventy three thousand. That's
kind of a week monthly report. But it wasn't the
end of the world. No big deal with that.

Speaker 2 (19:44):
When I read that, we'll be readjusted, by the way, and.

Speaker 5 (19:46):
We knew it would readjust because we talked about it
all the time about the readjustment. What was surprising is
they did. They did readjust for the April and May.
The June, by the way, was seventy three thousand NUTCH. You'll,
so the April and May came out and they readjusted
downward by two hundred and fifty eight thousand jobs. That's

(20:08):
a tremendous amount. That's like a quarter point on the
unemployment rate, about a million homes, like about a million
jobs or one point one million jobs roughly is one
percent of the unemployment rate.

Speaker 2 (20:22):
But what's interesting, though, is we didn't see there's like
no movement on people filing for unemployment. Yeah, it's it's
just not it's almost.

Speaker 5 (20:30):
But this was job creation, I understand.

Speaker 2 (20:32):
I understand. So even if the jobs created went down massively,
it doesn't really imply that there's unemployment.

Speaker 5 (20:40):
Well, when they say that April and May they only
had about forty five thousand jobs created for both months
combined total, that's really low. And that was that kind
of ties in more, we just don't expect with the tariffs.

Speaker 2 (20:53):
We don't have businesses spending money. That's what that's telling you.

Speaker 5 (20:56):
Well, I think what it is is businesses were uncomfortable
with what was happening with the terriffs because they didn't know.
You remember this was April and May. April was like
when they really started talking about the tariffs, right, it
was just popped out of nowhere, right, So there was
a lot of unknown at that point. Employers didn't know
what their supply chain was gonna be.

Speaker 2 (21:16):
Popped out of nowhere. I mean, we're talking about a
president that ran on this.

Speaker 5 (21:19):
Stuff, not where he was going to do two hundred countries,
and he came out with that chart, Johnny, that popped
out of nowhere. I mean, yeah, that popped out of nowhere,
I suppose, Okay, So, but the thing was there was
a lot of turmoil. Nobody knew what was happening in April. Really,
they didn't know what was happening with supply chains. They
didn't know what the costs were going to be because
that chart. Nobody knew what that chart meant or anything. Right,

(21:40):
and May was more of we don't know what's happening,
but hasn't been as bad as we thought it could be.

Speaker 2 (21:45):
Well, yeah, and it starts stock start stop. I don't know.
We're gonna do this, but not right now. I'm gonna
wait on that. I mean, that's that's more than anything,
what the tumultuous environment was about. We're gonna do it,
but not right now. Maybe now, maybe ninety days we
might Maybe that's I mean, that's let's be honest, that's
what caused the uncertainty. The real, shoppy uncertainty is the uncertainty.

Speaker 5 (22:05):
Yeah. So, but the thing is that's real. It's a
real thing. It doesn't matter why. It's real. And it
did affect.

Speaker 2 (22:12):
The economy, and companies aren't spending money.

Speaker 5 (22:14):
And here's where the proof is that it affected the economy. Now,
whether this is a blip or a trend, we don't
know yet. I think we'll know better by when we
get through September's statistics, which means October, right October, early November,
we'll have a much clear idea I think where we're

(22:34):
going to be as far as the strength of the economy.
I think the Fed now will cut the interest rates
in September, assuming nothing else happens right now. I didn't
think they were going to because the inflation report is
still spiking. It's starting to go up again, not going down.
It's not going down.

Speaker 2 (22:51):
I don't feel like in September. There's nothing that at
least looks to me like that.

Speaker 5 (22:55):
Well right now, if this trend continued, it's so little
because we went from four point one to four point two.

Speaker 2 (23:02):
Unemployment right, Okay, so unemployment right, I mean, unemployment stay
stay there in that low fours is where they want it.

Speaker 5 (23:09):
It's total sweet spot. But if that trend continued, we're
continue to go up. And it went up so little,
I couldn't even call it a trend or the beginning
of a trend. But if it went that way, and
the inflation is going the way it's going, Jimmy Carter time,
that's where we're at.

Speaker 6 (23:25):
Right.

Speaker 5 (23:25):
We're back to Carter Reagan stagflation. That's what That's what
the FED is so worried about. They're more worried about
stagflation than they are about inflation or unemployment because people
that haven't lived through stagflation, you don't want to. It's
not a fun time.

Speaker 2 (23:42):
They don't really have the tool to do much. So
they have two tools in their tools shed, and it's
either to it's either to fight the inflationary aspect, right,
or it's to kind of spur spur kind of spending, right,
and it's it's it's one of the two. And when

(24:03):
you get into stagflation, you're like, oh.

Speaker 5 (24:05):
Yeah, because you can't like if you raise the interest rates, right,
if you raise the interest rates to stop out the
inflation part of the stagflation, then your unemployment gets stronger.
Unemployment gets stronger bigger because the companies aren't people aren't spending,
and that becomes a vicious cycle. So employers start laying
people off and don't need as many people and they

(24:27):
don't need to make as much stuff because it'll just
sit in their warehouses. So that's that part, right. So
then if you drop you if you drop the interest
rate right to help increase more fluid in the market
of spending, right, to increase spending, and then you can
get super inflation. Then you get super inflation. So it's

(24:49):
a really really tough situation. So for the idea just
to say this is a really easy decision to make,
and people are more on for not making one decision
or the other decision. No, nobody expected this jobs report
to be reflected of the what do you call it
reconfiguration or readjustment, readjustment of the other months. Nobody. I

(25:11):
don't think anybody would expected that we had like twenty
thousand jobs a month. That would have been big news
in April or May if it came out that way.

Speaker 2 (25:19):
Isn't there uh? Isn't there a ton of manufacturing future
contracts in the pipelines? Though? In that comming, I've.

Speaker 4 (25:28):
Read a couple of things.

Speaker 3 (25:29):
I think it was ge had to announce that they
were going to build a new manufacturing plant for washing
machines here and now it was going to create a bunch.

Speaker 4 (25:37):
There's I think a couple of car dealers.

Speaker 2 (25:38):
There's there's a bunch, yeah, and I because I don't
know all the names, but I think there's but.

Speaker 3 (25:44):
There's not in the ground yet, so I mean, you know,
I mean, I think that'll be great if it does,
I mean, if it materialized.

Speaker 2 (25:51):
Well, of course, yeah, that's because that's remember it's kind
of it's been painted in that and I don't know
why the President's changing course, it's been painted as we
got to go through some pain and we're gonna and
then it's gonna get better. And you can't like what
was six months of pain? No he was. When you
said go through some pain, you meant a couple of

(26:12):
years of pain. Six months? Is you gotta you gotta
hold tight, sir. You can't just be like, Okay, no
more pain, make it stop, because we're not there yet.

Speaker 5 (26:20):
I'm not I'm not kidding that. I remember when he
was talking at the beginning, when all this stuff happened,
that we're gonna have to go through pain. I didn't
get the idea that in his mind he was telling
the country to be prepared for years of pain, even
though I think realistically.

Speaker 2 (26:34):
Because you haven't, your tariffs aren't in place, we haven't.
You have to see the effects of that. You have
to see you have to see again shovel in what
he said the manufacturing deals, Well, that's the way I
perceived it, because if you're laying out this plan and
this is part of the pain plan to get to
the good side.

Speaker 5 (26:51):
Well, because he says the economy is the strongest it's
ever been, we have the best.

Speaker 2 (26:58):
Say that. Anybody that knows you like, okay, sir.

Speaker 5 (27:01):
Well, what I'm that's what I'm trying to say. So
what he's saying isn't what.

Speaker 2 (27:04):
You can't You can't take eighty five to ninety percent
of what he says. You just can't.

Speaker 5 (27:10):
Yeah, I understand, but so, but but you're using it
now to say, well he said, and I'm like, well,
he didn't say that. I'm my opinion, that's but.

Speaker 2 (27:19):
That's the way. But if you look at the plan
with the tariffs to bring the manufacturing back, there is
that's that doesn't happen overnight. That's it. There's some calendar
involved there. And if you kind of go, all right, well, yeah,
that's if this is the train and that's the head
of it, and that's the end of it, we we
have some pain.

Speaker 5 (27:37):
And it just still I don't see GM. I don't
see GM building these plants they say want to build
when we have these steel tariffs just to build this stuff.
I'm not even talking about building the cars, right, you
have all these terrafts for the infrastructure needed to build
those plants. But more importantly is they just lost one
point two billion dollars. They just came out with the

(27:58):
report last week that said lost over the last quarter
one point two billion dollars. Well, I'm not and they
think over the year they're going to lose over three
billion dollars.

Speaker 2 (28:08):
I'm not saying it. It's gonna work out.

Speaker 5 (28:10):
How are they build a plan?

Speaker 2 (28:12):
Isn't this? Isn't there all these billions of contracts and
future manufacturing in the pipeline.

Speaker 5 (28:16):
It's I don't know, it's I don't know. I don't
know the reason why I'm saying that. What I'm reading
is is like the deals where these countries are coming
in with these five hundred billion dollar signing bonuses and stuff.
One of the countries that that we're saying is committing
to five hundred billion, their total gross to message of

(28:37):
product is four trillion, Right, so we're taking one eighth
of their economy and they're going to invest it into
our country. And there's nothing in writing that says they're
going to do this, or how they're going to do it,
or what they're going to invest in. I think that
right now a lot of it is hopes and promises
and plans without concrete stuff. I want to see stuff

(28:59):
breaking ground now. I think there are plants being I'm
not trying to be totally negative. I think there are
plants that are being built right now. I bet you
if we started digging around, we would see examples of
it happening. And that's awesome, and I like the idea
of bringing stuff back here too, But I don't think
it's gonna be as smooth or as easy as they
say it's gonna be.

Speaker 2 (29:19):
Oh, I'm one hundred percent on board, which is again
part of the you can't we have to go through
the pain. That's that's and we're in it right now.
That's because we're talking about interest rates. Right The interest
rates can change the quote unquote pain for for us
the day to days. That's it doesn't change much. What
it might change is how much credit you can tap into.
You know, what you make. That's not going to make

(29:42):
if you if you think that all of a sudden,
interest rates are gonna make your employer pay you more,
that's I don't know that that's a great connection. There's
a chance that if the company starts doing better because
they're growing, then your pay goes up. But again, gonna
take a little bit of time. But that doesn't give

(30:02):
us a lot of leeway, us the people, but it
does give the corporations a lot of leeway, and you know,
the country in pain. It's debt back gets a lot
less expensive and so get but it doesn't do much
for us.

Speaker 5 (30:17):
Right, So getting back to the interest report, the actual
mortgage interest rates, now we're talking not the Fed cut rates.

Speaker 2 (30:23):
Right right.

Speaker 5 (30:23):
What happened to day?

Speaker 6 (30:25):
Right?

Speaker 5 (30:25):
What happened yesterday when that jobs report came out. Plus
on top of it, that teriff announcement that was a
day or two before that. I didn't even catch that
because I was so busy and there's so much going
on right now. It's hard to keep up with everything.

Speaker 2 (30:40):
I'm deaf to tariff announcements, deaf to it. It's like
on more more. Well.

Speaker 5 (30:45):
I find it to be interesting because, first of all,
we never haven't seen this since nineteen nineteen tens or
something like that. So we're seeing something a tool being
pulled out of the toolbox that they're used for a
very very long time. Sure, and use it on a
map some scale, not just like a little piece here
or there. It's like worldwide. We're doing it, So to me,

(31:05):
it's very fascinating.

Speaker 2 (31:06):
I think the latest was India, if I'm not mistaken.

Speaker 5 (31:09):
Yeah, yep. And but with all of that happening. What
we've seen is our interest rates, the thirty year mortgage
rate for Freddy Mack, it has been pretty consistent since March.
We've been basically at six point six to six point
eight basically somewhere in between there and that's it, like

(31:30):
a point two variance for four or five months now.
It's been pretty set it and forget it kind of
interest rates. Even this week on Thursday before the and
the Thursday report is a week late for Freddy Mack
so because it's based on the survey they did from
the week before, and we went from six point seven

(31:51):
five to six point seven four or something like. We
went down point oh two, right, so we just for
a flat. But as soon as that labor report came out,
in all the hoopla about the report and the results
of it, and then that guy being fired from the
labor statistic, the guy that does the reports and him
been fired, the ten year Treasury bill dropped. I'm sorry,

(32:14):
I don't even know so much was happening today. I
was busy, but that that when all that happened, the
interest rates started dropping significantly. So I'm expecting to see
that we're going to be in the six sixes next Thursday, right,
maybe maybe even a six' five depending, really, well see

(32:35):
what Happens Monday, tuesday if they kind of turned things,
around or if it's going to. Continue but what's happening right, now,
guys and please listen to me this, time because you
didn't listen to us last. Time but we all said
it in this. Room they're baking in the drop of
The fed cut rate right. Now they're baking it. In
the bankers are banking it. In so everybody waiting for this,

(32:56):
wait you know the headline The fed drops the. Rate
you're missing out because the rate's already, dropping and that's
what you're waiting, for Right you're not waiting for The
fed to cut the. Rate you're waiting for a mortgage
rate to. Drop if you are, Right we've already said
that a bunch of.

Speaker 2 (33:10):
Times we talked about it a couple of weeks. Ago.
Right the number that everybody's waiting for is like five.

Speaker 5 (33:14):
Something, yeah, no six six point zero six points used
to be. Five moved up. Everybody that was the big
takeaway of that back in the.

Speaker 2 (33:25):
Day it ain't going to.

Speaker 5 (33:26):
Six, uh if we have a bad, economy it, could.

Speaker 2 (33:31):
Oh, sure BUT i mean bake the baked.

Speaker 5 (33:34):
In it is going to drop bacon a quarter point maybe.
Right we might see that and it could bounce up very.
Quickly another different report that comes out that goes the other,
way and it can get it can go up pretty.
Fast it isn't going to stay there for a long time.
Necessarily but what we're seeing is we're already seeing the

(33:56):
mortgage interest rates reflecting of what's happening in the national,
economy and everybody waiting for THAT fed. Rate the bankers
don't have to wait for THE fed rate to drop their,
rates so they'll you, know the ten year treasury bond
is the limus test for. It but that's what you
should be following right. Now and we were at four

(34:18):
point four's four point fives for the ten year treasury,
bill and last night we got into the four point.
Twos and let me tell, you every point one basis
point they call, it or whatever stasis point or whatever
they call that basis. Points every point one is not
point one. Percent it's it's a magnifier of the interest.

(34:40):
Rate so if it moves up point one point two
in the ten year Treasure treasury.

Speaker 2 (34:45):
Bill that's substantial it's.

Speaker 5 (34:46):
Substantial it can be pretty. Substantial, Mike mike will know
better about. This, sure let's talk about Some, uh we're
gonna continue about interest rates in. Buying when we flip
on the next side on the we're gonna take a.
Break but what we're gonna do even though That mike
row isn't here from the mortgage, firm he's still here
because he gave me a really detailed email. Yesterday Hometown

(35:07):
heroes was launched. Yesterday oh, Wow so we're gonna go
over the details of. That it's a little disappointing for some,
people but there's other ways to get around that, disappointment
and we're going to talk about. That so let's talk
about The Hometown.

Speaker 2 (35:22):
Heroes very cool just launched.

Speaker 5 (35:24):
Yesterday huh just Launched august, first the Green light, monthly.

Speaker 2 (35:27):
The Green light Month, HEY i guess better late than, never.

Speaker 5 (35:31):
And a dollar, short we'll get into.

Speaker 2 (35:32):
That still still could be really life shaper for some,
folks no. Doubt and again he's kind of shrunk down.
This This this went from really really narrow like for
the people that could qualify it to really really vast
AND i think it maybe it's maybe taking a little
breath in shrinking a little. BIT i don't. Know we'll
find out, together but it still could be very life
changing information and this could be a life changing team for.

(35:53):
YOU I florida talk Real estate is a team of pros. Pros,
Yeah Jimmy d's, here but man do we have so
many other professionals pros pros in their field that are
available for you at floridatokreestate dot. Com and of course
it's that. Simple go There florida talkreestate dot, com fill
out the contact sheet and get yourself signed in there
On facebook and. YouTube of, course if you're more comfortable

(36:15):
on the, phone pick it up call eight eight eight
nine seven three seven eight too. Eight you'll find that
hotline at floridatokreestate dot. Com, prospros, y'all you should know,
it you should use, it you should love it and share.
It you can change, lives including your very, own buying a,
home selling a, home stuck with a, home you don't
know what to, do, well let the professionals At florida
talkre estate dot com help you figure out exactly what

(36:37):
is going. On that's floridatalkreestate dot. Com Florida talkreestate Dot.
Com we're back in four. Minutes thanks for being with
us Every. Saturday it's right, Here florida Talkre estate On Real.

Speaker 1 (36:45):
Radio this Is Florida talk Real estate With Jim depola
And JOHNNY. C got a question for the. Show call

(37:06):
us live at one eight seven seven, nine seven sixty
nine sixty.

Speaker 2 (37:10):
Nine, yeah eight seven seven nine two seven six nine six.
Nine that's toll free of course if you dial that
in with your, questions, comments concerns in the world of real.
Estate does it? Work it's. Good, yep that one's. Working, Yeah,
jimmy you're gonna answer that if they.

Speaker 4 (37:25):
Call, right damn, RIGHT i.

Speaker 2 (37:26):
Will all, right good. MORNING i hate, hey good morning to.
YOU i hate, putting you, know all this weight on.
You i'm not going to just assume that you're gonna do, it. Shoulder. Yeah,
oh If i'm Ask i'll make sure if you dial, In,
jim if you, will he'll answer. It he'll probably get your,
name And i'm assuming you'll then put them on hold
and then maybe let them get on the. Radio.

Speaker 3 (37:48):
Yeah, yeah try to find, out you, know what they
want to talk, About so no going into.

Speaker 2 (37:52):
It so that sounds fair not not a full.

Speaker 3 (37:55):
Screen we don't ask you for Your Social security number
anything big big like.

Speaker 2 (38:01):
That just a, name what kind of kind of man teasy?

Speaker 4 (38:03):
Wearing, yeah well sometimes but you got.

Speaker 2 (38:10):
What are you? Wearing Rick cargo? Short uh but, yeah
real simple process and we are alive on This. Saturday
today is the second Of. AUGUST i can't believe. It
kind Of august is a is ougous the official starter
hurricane season for You.

Speaker 3 (38:27):
Germany actually you know WHAT i use wait Till September tember,
yeeah because that's when we REALLY i mean when we get.
Clobbered it seems to be from about very late augusta
to uh Through. October so once we uh.

Speaker 2 (38:42):
Me and my wife you were married towards the end Of,
august once we hit our, anniversary that's What i'm, Like
oh here we, go trap in go. Tab.

Speaker 3 (38:53):
Yeah it's been pretty little, activity, RIGHT i haven't seen
any a whole heck of a lot OF i think
it's a tropical storm.

Speaker 4 (39:01):
Activity it's been.

Speaker 2 (39:02):
Kind of normal, start, right. Yeah, yeah just.

Speaker 3 (39:06):
Last, year we had something out there in Early, may
IF i remember, right, WELL.

Speaker 2 (39:11):
I think you're, Right, YEAH i think we had something
named it.

Speaker 4 (39:13):
Didn't turn in, anything but it was just it was out.

Speaker 2 (39:16):
There SO i think everything so, far although we haven't
had any, effects but Like North carolina and like what
was It? Texas, YEAH i mean they've we've had, Weather,
yes plenty of. Weather, jimmy he's that's the Jump. Johnny of,
course our fearless leader thirteen plus years. Now i've told
you he does run as hot Producing Keller. Williams even
The Florida. Homebros team is That Kellerwiams. Innovations Jimmy d's

(39:41):
right there there he. Is Jim, depola how?

Speaker 5 (39:42):
Yoube, Hey i'm doing. Good, guys happy you Saw. Florida?
Everybody what is it kicking for?

Speaker 2 (39:47):
You is it Late? August is?

Speaker 5 (39:48):
It it's so. FUNNY i was laughing when you guys
were talking about this BECAUSE i haven't talked about hurricanes
since the hurricane season. Started, First Chris ross wasn't here
at the beginning of the, season and second of, all
you alway give me grief for talking about, it for
jinxing the. Community SO i. HAVEN'T i literally have not
talked about, this and now you guys are. Talking it's, like,
Oh i'm allowed to talk about.

Speaker 2 (40:09):
This, yeah it's. Official it's Like, august like you got
to be, like, hey you got your. Preps come.

Speaker 5 (40:14):
ON i know that they say That september is really
like the height of the, season BUT i always feel
like It's august.

Speaker 2 (40:22):
If you look at the grass, though if you look
at the, graphs like, HISTORICALLY i, know it just but absolutely.

Speaker 5 (40:28):
PEAKS i always feel Like august, because you, know for whatever,
REASON i got it stuck in my, head that's When andrew.
Hit you, know And andrew was like a really big,
one and that Was august twenty. FOURTH i actually remember the.
Date it's like the hurt, yeah and chang. Everything, yeah
and because we you, know before, THAT i think like
the strongest one THAT i remember was Like david and

(40:51):
that was like seventy seven or, something Right, Andrew so,
yeah but and that was In. AUGUST i always Think
august is the, month but you're, right historically it's really
been Late. August september is the height of. It so
we're we're getting. There, supposedly we're gonna get more. Activity
according to the.

Speaker 2 (41:10):
There's a ton Of saharan dust where right now we.

Speaker 5 (41:13):
Are oh that's.

Speaker 2 (41:14):
Good we are blessed with a blanket Of saharan dust
and that they're just not gonna pop off with all that.
Dust those are storm.

Speaker 4 (41:22):
Killers it's that's still pretty heavy right.

Speaker 3 (41:24):
Now, MAN i got a month ago or SO i
read that AND i was, like, okay well that's, good
BUT i didn't know if it.

Speaker 2 (41:30):
Lasted it was a couple of days. Ago mike's weather,
page good Old. Mic that dude's. Amazing uh he. Uh
he put out a comparison year over year of how
the dust sheer coming across. Was, man it's just a
wall coming off Of. Africa so for, us we're, like go, go.

Speaker 5 (41:50):
We need we need if we can get through this
year without any major you, KNOW i knock gonna wood
here major major, hurricanes especially on The west coast or
The east. Coast, OBVIOUSLY i really feel like our insurance
is going to start stabilizing even more. GREAT i don't
just to really quick insurance stuff BECAUSE i want, to you,

(42:11):
know let everybody know. That as As johnny said before the,
break you, know we got a great team here to
help you with all kinds of. Things So Ross kamaronets
from Bright Wing, Insurance Juno beach is your insurance. Guy
we've been saying that we've been seeing mostly good news
coming out from insurance premiums going down a little bit

(42:31):
or staying.

Speaker 2 (42:32):
Flat.

Speaker 5 (42:32):
YEP i was talking to a guy this. Week he
said he just did an insurance renewal with one of
his insurance companies and it only was seventeen dollars a
year more for the whole. Year was only increase of
Seventeen so that's pretty.

Speaker 2 (42:46):
Flat, yeah very.

Speaker 5 (42:47):
Much AND i you, Know ross just did one where
somebody saved six hundred dollars a year on their insurance
because of the rates getting. Flatter we did see one
of the insurance companies ask for a thirty one percent
increase for Their florida. People it's only one, Company it

(43:07):
isn't like it's an industry wide. Thing the insurance regulators
haven't said yes or no to that. Request.

Speaker 2 (43:14):
Yeah just because they asked doesn't mean they're going to.

Speaker 5 (43:15):
DO i mean they're going to get.

Speaker 6 (43:16):
It.

Speaker 2 (43:16):
Yeah and that is a substantial raise too for those poor. People.

Speaker 5 (43:20):
Yeah so if you have any questions about, insurance it
might be a time where you can actually save some.
Money six hundred dollars a, year that's fifty dollars a
month in your escro payment love. Right so if you
want to reduce your mortgage, payment one of the ways
to do it is to see if you can get
a better premium on your. Insurance so give us a.

(43:40):
Call we'd love to work with you on.

Speaker 4 (43:41):
That we do it all the.

Speaker 5 (43:42):
Time it's free just to get the, information and then
if you like the information you get and the numbers,
work then you Hire ross And ross will make it
happen for. You also micro out from the mortgage. Firm
we've had a lot of people call over the last
two weeks looking for mortgages for and. Refis mike's really
good at, that really good resource for, information and also

(44:05):
he's very good about giving you advice on how to
improve your credit. Score and What i've learned over the
years is hiring a credit score company or credit repair
company isn't really the way to. GO i haven't seen
really good results for buyers trying to improve by using
those type of. Companies mike's down to earth advice on

(44:27):
how to get your credit. Repaired i've watched him do
really amazing things in a pretty short period of. Time
if people just followed his, advice and you know what
the advice is pay down your debt, right pay down
your bet to certain. Numbers who gives you a, number
like if you have a two thousand dollars limit on
your credit, card you, guys you, know get your credit
card balanced down to this and don't let it go

(44:49):
above that. Anymore the other thing you can, do other
than making any late payments that you if you have late,
payments make those, up then reduce the amount of the
debt that you. Have and the third thing is get new.
Credit and by getting new, credit that's one of the
fastest ways of increasing your. Credit even though you have bad,

(45:09):
credit getting new credit can help. You AND i know
that sounds, counterintuitive but it's way faster than hiring those
companies trying to fight with your creditors, saying, HEY i
KNOW i didn't make a payment for six months in a,
row But i'm ready to pay. Now will you take
it off my credit history that had late. Payments, right
it's much easier just to build new credit and get

(45:31):
your old credit, fixed and it's. Free you're not paying,
anybody you're not relying to anybody might just gives you
an example what you need to. Do it's a really great.
Thing the other thing. Is we've had a bunch of
people call this week and last week with legal. Stuff
so we've had people call asking for living. Trusts went
To Paul, KRASKER thela office Of Pauly, krasker who's a

(45:53):
great resource for all of our listeners out.

Speaker 6 (45:55):
Here.

Speaker 5 (45:55):
Wonderful so people have called about. That they've called called
about title. Issues i've had people call about trying to
evict people out of a property that they. Own all
of these things and we're the resource for you for,
That we get you to the right. PEOPLE i have
somebody who called last yesterday who condo board is charging

(46:19):
double what they said they were going to charge for
repairs that need to be made of this condo for
those new state. Regulations, yeah well they think they're being ripped,
off and the condo board won't show the, books they
won't show why it's. Double the condo people are thinking
now that there's kickbacks involved and that they're the condo

(46:40):
boards getting kickbacks and that's why they're charging so much.
Money so they're looking for a lawyer to see what
their legal rights. Are so we were able to give
them referrals to two. People we gave them To Paul
i'm not Sure paul's going to be the right one for,
that SO i gave them a second attorney That Andrew,
wyman who was construction lawyer on the. SHOW i feel

(47:03):
Between Paul krasker And Andrew, wyman they can at least
refer out to the people that they should go. To
AND i actually have a third, attorney so if those
attorneys don't work out for, THEM i have a third
one that might. Work and we do these resources things
for people for. Free it isn't LIKE i charge you
to go find the attorney for. You we just give
you the resources you. Need we do the same thing with.

(47:24):
Contractors when you need contractors and stuff like, that that's,
right we have. Them we had a guy just recently
had to have a roof repair AND ac, repair and
you know we had the, contractors reputable people ready to
go for both those.

Speaker 2 (47:39):
Things another ONE i just going to floridatokreal estate dot.
Com you get one of the prospros on the, team
or of course amazing referrals of trusted resources that are
we'll say, VETTED i mean in a lot of ways
because these are these are people that we trust and
and feel like we can put that trust for you as.
Well florida talk, real.

Speaker 5 (48:00):
AND i also want to mention that not using some
of the people we refer out to can really hurt.
You and we had a lady Named. Diane we're selling
a property that she, owns The, steward and she moved
to a different. STATE i gave her our preferred moving.
COMPANY i don't make any referral fees from this movie

(48:23):
company or, anything, RIGHT i just know they're reputable and
they do what they, say and they've shown up and
the other customers we've referred them out to have been really.
Happy SO i Gave diane that moving. Company she ended up.
MOVING i talked to her. Yesterday she got her furniture.
Yesterday it's been held hostage for over twelve days because

(48:43):
she didn't hire the company that we. Recommended they hired
this other. Company the other company wasn't a real more moving.
Company they were a, broker so they don't have any moving.
Experience they just they were like a lead generation system
for moving companies where they put out advertise and you
call them. Up you think you're talking to a moving,
company they give you a. Quote they're not going to

(49:04):
be your.

Speaker 2 (49:05):
Mover like travel agents for movers.

Speaker 5 (49:07):
Exactly they're brokers for. Movers so when it up happening
was this lady was they put the stuff on the,
truck they moved it up to the state that she moved,
to and then they, said, sorry the weight of the
stuff is way more than what we. Thought and they
ended up charging her forty percent four zero percent more

(49:28):
than what they originally quoted her. For or she wasn't
going to get a furniture back that's held. Hostage so
welcome to. That moving world is a very, nasty, nasty
dirty world if you don't know what you're. Doing so
finding a reputable mover is really really. Hard and you,
know we've had a lot of movers on this company
that have been sponsors of the. Show and if you,

(49:48):
notice we don't have sponsors on the show for moving
because we couldn't find a good moving company that really
gave great customer. Service we kept getting complaints AND i
can't put people on the show there getting complain after
complain enough to, complain, right you.

Speaker 2 (50:02):
Can everybody can do a couple of ye, hey if
you have a, yeah, yeah you do.

Speaker 5 (50:06):
It and people make misake and sometimes people make mistakes,
yes but if you don't step up and handle the
mistake and own up to it and try to pass
it on to somebody else and, EVERYTHING i don't want.

Speaker 2 (50:17):
TO i, DON'T i.

Speaker 5 (50:18):
CAN'T i can't in good faith refer you to people
that listen to the. Show, Right so if you need
any of, that we're here for you for.

Speaker 2 (50:26):
That floridatok real estate dot.

Speaker 5 (50:27):
Com now that being, said we're going to talk about
something that will help. People here's another thing that help
people is The Hometown heroes program was finally launched. Yesterday
it was a month. Late and WHEN i say, late
it's always for the LAST i think it's been out
four or five years now it's either three or three
to four or four to. Five AND i can't. Remember

(50:48):
If mike was, here he would, know, Right, Mike. Mike
so with with The Hometown heroes, program they came out
a month earlier because they reconfigured the whole program and
it went more back to the basics as you were
talking about before the. Break so the way the program originally,
worked it was fifty million dollars put, out but there

(51:08):
were only certain professions at the. TIME i think there
were like fifty professions that would be eligible for this.
Money and that's why they call it The Hometown heroes
program because it was supposed to be workforce housing money
so that people that lived and worked in our community
and helped support all the community services that they had

(51:29):
money so that they could live. Here and what you
would get is five percent of the loan value of
what you were. Barring you would get back to help
pay for closing costs and down payment up to thirty
five thousand. Dollars it is basically a zero interest, loan
is what you're, getting because you do have to pay

(51:49):
the money, back but you don't have to pay it
to you sell, it refy, it or move out of
the house and turn it into too. Rental it's not
your homestead. Anymore you're supposed to pay the money, back
but with nowhere fruit, interest you just pay back what
you borrowed. Originally so even if it's fifteen years from
now and you had twenty two thousand, dollars all you
have to do is get back to twenty two thousand

(52:10):
with no recruit, interest.

Speaker 2 (52:12):
Right and so it's one of the more beneficial down payment,
assistants for. Sure it really.

Speaker 5 (52:16):
Is it really was and then what happened was it
became so popular they expanded it to one hundred million,
dollars and then they started expanding the. Employment so at
first it was basically AN i gloss and over, stuff
but it was, teachers, firefighters police, officers hospital workers and medical.
Workers government employees like if you work for the sanitation,

(52:41):
department or you were a clerk at the city hall or,
something all of those would be. Covered so that was
all workforce, housing, Right but then it became as long
as you were employed by an employer In florida that
was based In, florida and you were employed by somebody In,
florida you could get the loan. Too and when it
became like, that it became so popular that that one

(53:03):
hundred million would go in about ten, weeks about ten
million a week would be, spent and then after ten
weeks the program was. Over so we were gearing up
and Our Summer Buyer's guide a few months ago saying
get ready for this because you want to be part
of that. Money, well they unexpectedly put the hold on the,

(53:26):
program pushed it back a month To. August, first they
scaled back from one hundred, million which had been going
on for two to three years back to the fifty
million original that they had set, aside and they scaled
back to all the employers. Again now there's still like
eighty employers that employment positions that you can still get the,

(53:49):
program including things like chiropractors and chiropractor. Assistants they're still.
There but people like, me who's just a, relter you,
know self employed, RILTER i wouldn't be qualified for that
even if my income was okay within the, standards Because
i'm not the right. Profession so that program is. GREAT

(54:12):
i have a public school, Teacher calin who's trying to
get qualified for a. Loan we're really hoping that she
can get into that, program which would be. Great public
school teachers are perfect candidates for this.

Speaker 2 (54:24):
Stuff and you do have to be a first time home.

Speaker 5 (54:26):
Buyer, yeah you can't have owned a home for Three
you can't have owned a primary residence for three, years, Right,
OKAY i don't know if you can ever have not
owned a home UNDER fah it's you can't have owned
a primary residence for three. Years but WITH faha, financing
you could still own a rental property right now and

(54:49):
still get first time home buyer faha. PROGRAM i don't
know if it works that way With Hometown. Heroes, well
that's a great, question Asked mike when he comes back
excellently in. Town But mike wanted to let us. Know
he sent us an email says he was going to be.
Here is, Like, Hey Hometown heroes is. Out so here's
the thing you need to know about The Hometown. Heroes
it isn't for everybody. Anymore there's less money, available BUT

(55:14):
i think it will take longer for that money to
be used. UP i think it'll be longer than a
ten week program because there's less people that are qualified
for that, money way. Less think about. It it went
from if you worked In florida and you were employed
by A florida, employer you could get this program right.
Now if you have to be within eighty professions in

(55:37):
order to get the. Program so not everybody's going to
be able to use, it but the ones they, do
it'll be a great opportunity Form they probably won't have
to feel as rushed to get the. Program but and
it's a pretty easy program to apply. For So Hometown
heroes is. Out. Guys if you want to know more about,
it give us a, call we'll walk you through the whole.

Speaker 2 (55:57):
Thing that's right At Florida talk Real estate Dot. Com.

Speaker 5 (55:59):
Now the other the thing is is that if you
can't use that, program because there were a lot of
People i'm sure this summer that we're planning on users
program and, can't there's still another program that's out twenty
four to, seven three hundred and sixty five days a
year called The Florida Bond. Program and with that, program
it's very similar to The Hometown heroes except there's no profession.

(56:21):
Requirement as long as you work In florida and are
paid by The florida employer and your first time home,
buyer you can get this. Program but what it is
it's a ten thousand dollars flat. Amount so whether you
buy an eighty thousand dollars condo or a four hundred
thousand dollars, home you get ten thousand dollars from the

(56:43):
state Of florida to help pay for your closing costs
and prepaids on the. Purchase The Hometown heroes program is
better because if you're buying a higher priced, home you
can get a lot of people were getting twenty twenty
two to twenty five thousand dollars in that program with
The Florida, bond you get ten thousand flat no matter,

(57:05):
what but ten thousands a lot it. Is and if
you are buying a town home or something for two
fifty three hundred, thousand ten thousand dollars is probably at
least one third of what you would need to bring
to the, table including down payment and closing costs to
buy a. Unit so you're getting one third help from

(57:26):
the state Of. Florida and again it's like a zero interest.
Loan you don't have to pay it back until you
sell the, house or you refy, it or you leave
the house and not make it your primary residence. Anymore
but you're only paying the ten thousand back no matter
how long you keep that. Money you're not paying any Accrued.

Speaker 2 (57:43):
Interesting, yeah that could be the difference between someone being
able to and not being able to get that townhome
or whatever home you're dealing with.

Speaker 5 (57:49):
Them, yeah so it's really, important valuable. Resource so, Anybody, so,
anybody anybody that is interested in, that give us a.
Call we'd love to talk talk to. YOU i thought
we would talk about this one thing because they found
it to be very. Interesting you want to do it
on the other side of the. Break, yeah let's go
ahead and do. That let's go on the flip. Side
and if anybody wants to Call johnny.

Speaker 2 (58:11):
Eight seven seven nine two seven six nine six. Nine
that is total free, questions, comments concerns in the world
of real. Estate you want to be involved with the
conversation at, hand don't be. Shy you're more than welcome
to join. Us we are live on This august. Second
great to have you with. Us of, course if you're
not comfortable on the, radio believe, ME i. Understand you
can always go to floridatalkreal estate dot. Com these are.

(58:31):
Prospros you get experts in their, field all of them
at the one stop real estate. Shop it's floridatalkreal estate dot.
Com find them On facebook and on. YouTube lots to
Consume Florida talk Real estate On, Facebook Florida talk Real
ESTATE llc on. YouTube there's a ton of informational chunk
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it share. It you can change, lives including your very,

(58:52):
own with the prospros floridatalkreestate dot. Com we're back and for.
Minutes thank you for being with us Every. Saturday It's
Florida Talk Real estate right Here Real.

Speaker 1 (58:59):
Radio this Is Florida Talk Real estate With Jim depola
And JOHNNY. C got a question for the. Show call

(59:20):
us live at one eight seven seven nine two seven
sixty nine sixty.

Speaker 2 (59:24):
Nine, yeah that's. It eight seven seven nine two seven
six nine six nine toll. Free we checked the phone lands.
Earlier they are absolutely. Operational you're more than welcome to
join us live on This. Saturday It's august the. Second
great to have you with. Us JOHNNY. C that's. Me
jimmathy's our producer. Extortinair what's?

Speaker 6 (59:42):
UP i?

Speaker 2 (59:43):
Dude he? Know and good? Morning is is Locker Room
live at?

Speaker 4 (59:45):
Eleven it is a live at eleven.

Speaker 5 (59:48):
O'clock, yeah.

Speaker 2 (59:48):
Excellent got a lot going, on you, know football start,
Day football's coming.

Speaker 3 (59:53):
Up a matter of, fact that just printing out The
gators schedule last, night so we'll be.

Speaker 4 (59:57):
Carrying those games coming up pretty. Soon you're On Real.

Speaker 2 (59:59):
Radio gators just rolls off the Tongue. Gators. Yeah, Uh.
Flora Real radio has been home to The Florida gators
for a long time.

Speaker 3 (01:00:09):
NOW i mentioned that to our fearless leader here in the,
beginning you, know before you had gotten here this. Morning,
uh And, jim you were under the Impression gators have
pretty good team this.

Speaker 4 (01:00:18):
Year what do you, Think, JOHNNY i, mean you have
the real pulse.

Speaker 2 (01:00:21):
On NO i. AM i am a, homer, DUDE i
am one hundred percent. HOMER i go into every year
going this is the. Year. Baby there's not a ton
of national expectation for The gators for.

Speaker 5 (01:00:33):
Sure.

Speaker 2 (01:00:33):
NO i think there's a ton of promise for the team.
THOUGH i think that defense can be rowdy as. Hell and, uh,
man when you got you got a couple of players
that can pop like The gators. Do you never, Know,
man it's just such a tough. Conference there are some
it's top. Heavy there's some loaded ass teams of Top we'll,
see you, know we'll.

Speaker 4 (01:00:54):
See who's the big team this.

Speaker 3 (01:00:56):
YEAR i, mean obviously Like georgia has been for ill long,
Time Ohio.

Speaker 2 (01:01:00):
State it could Be, michigan it could be it could
be The texas year To texas to take the. Dominance,
yeah it could. Be we'll see young quarterback play over.
There but anytime you got a you, know a, manning
there's a. Chance.

Speaker 4 (01:01:13):
Sure, Yeah well there's a you, know of course went to.
Portal it's just so.

Speaker 3 (01:01:16):
HARD i, mean if you don't study it the way
guys like you do And greek And, JOE i, mean
you really got to pay attention because they just move
around like. Crazy now AND i heard some uh, Well
i'll get into something else on that, later but the unrelated.

Speaker 2 (01:01:31):
And they sure. Can they sure can't have some, movement
that's for. Sure that freed up the. Players that's that's
no doubt about.

Speaker 4 (01:01:37):
THAT a small little oil WHERE i was going to
go out side to bet. THAT i wanted you to
finish that.

Speaker 3 (01:01:41):
Up BUT i heard it In ohio they're trying to
make prop bets. Illegal the governor there wants to make
prop bets illegal because of the aspect of how it
affects players playing like they'll they'll do, something you, know
they'll play differently in order to pad stats or unpaddesston
because of the betting aspect of.

Speaker 2 (01:02:01):
It so they want to make it illegal just because
of the potential for. Impropriety, yeah prop betting. Interesting it
is one of the more one of the easier ways
to infiltrate, somebody become, them make them part of the.
Play for, say buy somebody in, right make, them make them,

(01:02:22):
aware give them a. Taste and one of the easier
things to control would be their own stat.

Speaker 3 (01:02:27):
Line, sure here's ten million, strikeout, yeah or whatever. Possible,
yeah it's a simple way of saying it.

Speaker 2 (01:02:34):
Exactly, now if it's positive, stuff that's hard to. Do
like you, know you get you have to have five
receptions as a wide. Receiver, well your quarterback has to
throw it to you at least five, times and you
got to catch all of. Them, Right, SO i mean
there's some things where you're, like it's not totally in,
play but you get the quarterback, involved and now he's

(01:02:54):
going to decide who he's gonna throw it to whenever
he wants, to and that's, Well.

Speaker 5 (01:02:58):
I'm thinking more like this Super bowl or, something or
maybe it was a college college national. Championship they were
betting on whether the person was going to be doused
with what? Color that could be set up really. Easy of,
course you could just set that one up really, easy
even like a national.

Speaker 2 (01:03:15):
Anthem you want you want me to do a quick?
One do you want a long? One what do you?
Want because there's only two sides to? That, yeah you
want along?

Speaker 5 (01:03:21):
One, WELL i think there should be a prop that
about whether the prop that's gonna sail or.

Speaker 2 (01:03:26):
Not that's interesting AND i like. IT i WOULD i
would bet on no. ESPE i say they let the
people vote on. It if they're just gonna legislate that,
OUT i can see that. Happening, yeah that's. Interesting Jimmy,
johnny there's There's jimmy d he's our failest. Leader he
runs A Florida home pro s. Team Kellerwilliams. INNOVATIONS i
do prop betting over. There prop bet you might play

(01:03:47):
some cards THIS wee can't.

Speaker 5 (01:03:48):
Maybe, Yeah, OH i can't. BELIEVE i just lost.

Speaker 2 (01:03:53):
It what'd you do your? Mind? Where?

Speaker 5 (01:03:55):
Oh AND i really wanted to. Talk, well we're going
to talk about. Anyway i'm going to do it off
the top of my.

Speaker 2 (01:03:59):
Head you read it?

Speaker 5 (01:04:00):
Right, Yeah so you, know it's almost been a. Year in,
Fact august sixteenth will be one year since they changed
the regulations for The National association Of. Realtors august sixteenth
will be one year where they were trying to change
the way that commissions were structured in hopes of reducing.
Commissions Now Wall Street journal came out with a, report

(01:04:23):
pretty big report like a couple of weeks ago talking
about the first nine months of what happened and what
they found out is it real estate commissions went up
slightly right after this law was. Created and now that
was The it was not the intent they were hoping
to reduce. It now here's something THAT i just read

(01:04:43):
that was interesting in this article from The Las Vegas
review because they were talking About nevada and what happened
with with commission rates once this thing went into. Effect
but they said, that like they named for the countries
Like britain And netherlands and a couple other, countries and

(01:05:03):
they get anywhere from one point five percent to three
point five percent for real estate commissions in those. Countries
that was surprising to me BECAUSE i didn't know about
that BECAUSE i don't do real estate in those countries right.
Yet and in The United states it's between five and six.
Percent it's how, long you, know at Least i've been

(01:05:25):
in the in the industry for thirteen fourteen years as
a realtor and then another five or six years as
an investor working with real, estate and five to six
percent has always been kind of like the fluctuation dependent
on the. Market but that's what it's, been and it's
been that way even well before. That, YES i think so, too,

(01:05:46):
Right but NOW i understand why THE doj had such
a strong opinion that they wanted this crushed because they
were thinking that we're being charged two to. Three you,
know In america agents are making two three times per
transaction is these other. Countries so what happened is the

(01:06:09):
rates did not go. Down and what the? Rules it
was basically two simple. Rules the new rules were number,
one sellers can no longer advertise on THE mls how
much that they were offering buyers agents if the buyer
agent brought them a qualified. Buyer so, before the way
it worked Was johnny wanted to sell his house AND

(01:06:30):
i would say To, johnny how much do you know
how much real estate? Commission let's SAY i Asked johnny
for six and If johnny said yes to six, PERCENT
i would put in the. Contract i'm taking three percent
And i'm offering three percent On johnny's behalf to advertise
to say to other buyer's, Agents, Hey johnny's going to

(01:06:51):
offer three percent if you bring them a qualified. Buyer,
right If johnny negotiated with, me we took a lower.
Commission let's SAY i would normally do two and a
half percent to me and say to the world on THE,
Mls johnny's offering two and a half percent to a
qualify buyer's. Agent can't do that. Anymore can't do that.

(01:07:12):
Anymore you're not allowed to put on THE, mls but
you could put it anywhere. Else so IF i wanted
to advertise on social media and, say, Hey johnny's offering
three percent to buyer's, agent that's. Legal, now this was
supposed to be help for, Transparency so tell me how that's.
TRANSPARENT i don't, know because what has happened in that.

(01:07:34):
Year what used to happen Before august sixteenth Was garlands
deal of. You, yes it was Under. Biden it was
under The biden. Administration so but it's been going on
for over six, years SO i don't know if it
started Under. Biden it might have started Under trump and
then it continued Under. Biden biden finish. It it was

(01:07:56):
going on for at least six, years at least six,
Right so this has been going on a long time
underneath and it just bubbled up when they came out
to these. Rulings so what happened was is. Uh they
thought it would Reduce they thought it would reduce costs
to sellers because now the sellers were being, told, hey

(01:08:16):
you don't have to offer any commission if you don't
want to to a buyer's, agent let the buyer pay
the buyer's. Agent if you want to do, that you
have that. Right you always had that, right but they
felt it wasn't talked about clearly. Enough now In, nevada
they were expecting this to reduce interest. Rates so The

(01:08:37):
Las Vegas Journal review just did a study and we
went from five point three to two percent average commission
paid per transaction to five point four to. Four so
we went up point one two, Right so basically it remained.
Flat everybody's having a conniption fit because everybody's, like, oh,

(01:08:57):
well we changed these. Laws why hasn't The why hasn't
the commission rate? Drop and it's very. Simple people have
to understand the law of supply and, demand and right
now there aren't as many buyers as there are, sellers
so the sellers need the. Buyers so how are you
going to attract a buyer if you're telling the, buyers,

(01:09:19):
hey by the, Way, johnny if you want to buy my,
house you're bringing a real estate. Commission you're going to
pay your own real estate. COMMISSION i don't want to
pay any of that for. You so if you're going
to bring in your, representation you pay for your. Representation
then most buyers in today's, market because there are way
less buyers than the amount of houses for, sale a

(01:09:39):
lot of buyers like. It that's the way you're going to.
Be i'll go down the street and buy the other
person's house who is offering a real estate commission to my.
Buyer that's.

Speaker 2 (01:09:49):
Crazy it is weird when you frame it like, That
AND i get that's the only way to frame. It but,
like IF i like this, house AND i really like this,
House i'm not going to not buy it BECAUSE i
have to pay my realtor's. Commission right, That if that's
my deciding, factor IF i can't afford, IT i understand, that,

(01:10:10):
right THAT'S i get. That but If i'm, like, WELL
i would buy this, house But i'm not paying my realtor's, commission.

Speaker 5 (01:10:15):
That's a Weird here's what the federal government did to.

Speaker 2 (01:10:18):
You that's a that's a weird place to, be, right,
Right and what.

Speaker 5 (01:10:21):
The federal government did to people in that. Situation WHEN
i say to, you like and if you were dealing
with that right before you get to see the, house
this is rule number. Two Rule number, one sellers can't
advertise on THE mls what, commission if, any they're. Paying
and number two is buyers have to sign an agreement

(01:10:43):
with a buyer's agent before the agent can show them the. Property,
NOW i had a customer a few months ago THAT
i had done a couple of deals with in the,
past really helped him out a. Lot i've always done
very good for him and even helped a relative by
a property through, me and then he needed to buy another.

(01:11:04):
Property and we never really had serious buyers agreements at
that point because we had a. Relationship it wasn't, required
AND i felt like and we weren't worried that the
seller wasn't going to pay a. Commission but now IF
i took you, Out, jimmy to go see a house
and you didn't sign an agreement with me BEFORE i

(01:11:25):
opened up that door right saying that you're hiring me
to be your real estate, agent if you don't have
that form, signed AND i open up the door and
show you the property and the seller or the or
the listing agent finds out about, it they can follow
a complaint with The Florida Real Estate Ethics commission and
first time penalty five thousand dollars. Fine, oh five thousand dollars,

(01:11:49):
fine first time penalty for opening up the door without an.
Agreement SO i had to explain to this, Person, HEY
i know that we haven't done this in the, past
but we need to sign a buyer's. Agreement they didn't
want to do, that and they, go, oh, Sorry i'm
not going to do, that like he thought he had a.
Choice AND i, go, well you don't have a choice
if you want to use, me Because i'm not going
to risk a five thousand dollars fine because you don't

(01:12:12):
want to sign a document that's federally required, Now AND i,
go this isn't mess around, time and it isn't going to.
Change i'm still going to ask my commission from the.
Seller So i'm not asking you pay the, commission but
we have to talk about. Commission you have to sign this.
Document he didn't want to do. That he, GOES i
don't want to be fully committed to, you AND i,

(01:12:32):
GO i totally understand that THEN i can't show you the.
Properties and we were scheduled to show the properties the next,
day AND i had a. Pass he ended up ended
up working With mike and closed the deal With, mike
and he found another agent that didn't require, that so
they risked the five thousand dollars, fine AND i wasn't.

Speaker 6 (01:12:53):
Going to do.

Speaker 4 (01:12:53):
That is that happening a, lot do you?

Speaker 6 (01:12:55):
Think?

Speaker 5 (01:12:55):
Oh, yeah agents go all the time showing properties without
getting any kind of bug agreements at. All it happens
all the. Time it's still, happening and it's totally it's
totally against. REGULATIONS i don't want to say, illegal because
it's not a. Law they're, regulations not, Laws okay that
we're talking, about but you're breaking the regulations which are

(01:13:16):
required for your state.

Speaker 3 (01:13:18):
License so but in, order the only way that that
regulation can be enforced is if someone else makes a.

Speaker 5 (01:13:25):
Complaint, yes that's that's the way you would find, out, now,
broke how would they?

Speaker 2 (01:13:30):
Know how would they know that they don't have a buyer's?
Agreement and is this a?

Speaker 5 (01:13:35):
Workaround, well here here's the. Thing let's say that let's
say we don't sign a buyer's. AGREEMENT i take you
to the. House, johnny you love the, HOUSE i. DON'T
i call up the seller or the listing agent and, go,
hey my Buddie johnny wants to go buy this. House
how much are you paying for real estate? Commission they,

(01:13:55):
go we're not. Charged we're not paying any buyer's agent commission.
Fee THEN i go back to, You, johnny, Go, Johnny i'm,
sorry they don't want to pay a. FEE i try
to negotiate. It if you want that, house according to
our agreement that you signed BEFORE i showed you that,
house it states how much real estate Commission i'm expecting
to make and IF i don't get it from the,

(01:14:16):
seller it says in the, agreement you're supposed to pay.

Speaker 2 (01:14:19):
Me, well all, right but the question was Is.

Speaker 5 (01:14:21):
And then you, say but? Wait but then you, say
but you. Haven't you haven't signed an agreement with. Me oh,
right let's say you haven't BECAUSE i didn't do the right. Thing,
Right you're gonna wrap me. Out you're going to go
to the. Seller so, go, HEY i never signed an
agreement with this. GUY i just want to work with you.

Speaker 2 (01:14:37):
Directly, well but to have that conversation knowing you haven't
signed an agreement would be foolish from the relter, side
Where i'm, like, hey no.

Speaker 5 (01:14:45):
Agreement you would go directly to the seller and, go,
HEY i don't want to use my, buyer.

Speaker 2 (01:14:50):
Just sign a one day buyer's.

Speaker 5 (01:14:52):
Agreement, WELL i just read yesterday that there's things called touring, agreements,
right WHICH i used one time because the person wasn't
ready to hire. Me, Fully so what we did is
we wrote down each property we showed that day and basically, saying,
look you're not required to work with me full, time
but these five, properties if you come back to buy,

(01:15:14):
Them i'm your. Agent, yeah BECAUSE i think BUT i
heard THAT i just read that that is not. Legal
why so for me.

Speaker 2 (01:15:21):
The absurdity FOR i think regulation has its. Place this
is like absurd regulation because any realtor that wants to
put themselves in a position to where they don't have
an agreement with, somebody they're gonna schlep around and show
a bunch of houses. Too if they choose to do
that to, themselves they should allow that to, happen, right

(01:15:43):
because really they're only hurting. Themselves, yeah you're not gonna
go around all day showing houses to. Somebody you don't
have an agreement with not on the, regular because you know,
what you're gonna end up with, Nothing you're just wasting your.

Speaker 5 (01:15:56):
Time the difference is, now, though expect a full expectation
that the seller was always going to pay the buyer's agent. Fee,
sure but that is just the.

Speaker 2 (01:16:09):
Bare bones of taking time out of your day to
go show properties to somebody without a contract is kind of.

Speaker 5 (01:16:16):
Silly, well you know that we don't do that because
you used to work with us in the, office so
you saw us writing agreements all the.

Speaker 2 (01:16:23):
Time the agreement is everything for you because otherwise you
could absolutely just be abusing your Your you're passing to
that home because they have to have a realtor to
go see.

Speaker 5 (01:16:33):
These you're show them twenty properties and you call them
up one day and you, go, HEY i found another
property for you go, see and they, go, Oh i'm,
SORRY i found one On zillo AND i already worked
at somebody.

Speaker 2 (01:16:43):
Else. Yeah.

Speaker 5 (01:16:43):
Yeah and you don't have an, agreement you don't have
a leg to stand. On so the agreements were, important
but they were really more important to lock in that
the buyer was working with the buyer's agent as a
full time exclusive. Arrangement but now it's also about the
money and the reason why the interest a mortgage a mortgage,
rate the reason why the commissions have not dropped yet

(01:17:04):
and they will. Drop, okay it's going to be a
life of the cycle of the. Market when we're in
a strong seller's, market there's going to be way less
buyer's agency fees paid and offered by the sellers because
they won't need them when you have fifteen offers on the.
Table when you're in that kind of, market put the
house on the market and you have fifteen offers in

(01:17:25):
seventy two, hours you know that one of, them from
the seller's, perspective are willing either not to use an
agent to represent them or and that way they don't
have to pay a, fee or that they're willing to
pay their buyer's agent fee if they choose to have.
One because the market's so tight for the, buyers they

(01:17:48):
just got to eat.

Speaker 2 (01:17:48):
It that's, right that's part of.

Speaker 5 (01:17:50):
And then the sellers are going to have an advantage
in that. Market but when the market, slides ward's more
stronger for the. Buyer the sellers need those buyers agents
and they should be willing to pay a commission to
get those buyers out there to get as many as
they can to find the one that wants to buy their.
House and it's the cost of doing, business.

Speaker 2 (01:18:08):
And that's part of the cost to make sure your
house gets that's.

Speaker 5 (01:18:10):
Right i've never seen any other industry controlled price wise
like a regular. Industry can you? Imagine can You and
maybe there are regulations like this AND i just, know
but can you imagine the federal government telling car dealerships
how much they can make per, Car like you're not
allowed to make a certain amount of. Profit we're capping your,

(01:18:32):
profit how much you're allowed to make because we think
it's unfair that the purchasers are paying too much. Money,
right you don't do that in any other, industry but this.
Industry they don't do it to. Lawyers we're trying to
do it to the pharmacy. PHARMACEUTICALS a lot of people
will be on board, with, yeah, yeah you don't do

(01:18:52):
it to the. Lawyers and it's the same kind of.
Thing it's a service industry where you're offering a, service
not a. Widget i'm not you're not buying some from,
Me you're buying my. Expertise if you will and my experience,
right just like a. Lawyer can you imagine if they
came out and they said lawyers fees are capped like crazy.
CAP i know there are cap because you can abuse

(01:19:13):
and they stop the. Abuse, yeah but it isn't like
where they just say across the board without seeing it
on a case by case, basis you shouldn't get more than.
This AND i don't think it's right for the federal
government to. DETERMINE i think it's right for them to protect.
Consumers yeah, right and that people should be educated understand

(01:19:34):
what's going.

Speaker 2 (01:19:34):
On that doesn't feel like it's the concern though there
are agencies like THE, cfpb there are agencies that are
put in place to do just. That that they just
keep sawing THE tv, like that's not the, motivation and
maybe there's they could veil it in, that but THAT'S
i don't believe that to be the. CASE i don't

(01:19:55):
know what the motivation. IS i can't just be a harm.

Speaker 5 (01:19:59):
Realtor but, well they actually the attitude was is they
feel that realtors have like almost monopoly on these commissions
and that they're you, know that they'll control SO i
know WHAT i, know but that's that's the way that
people that you, know that's the way that regular consumers
look at. It and you, know real estate agents if

(01:20:22):
they do it. Right you, know you can make a
lot of money as a, realtor but the amount of
money an. Agent, Okay so an, agent you have a
license to operate In florida as a real estate. Agent
a realtor is like joining a, union, Okay and a
realtor when you're a real tour, right and there's a
little asterisk or whatever trademark thing with real tour that

(01:20:44):
means you've joined a group and the group has certain
standards that you must. Uphold as a real estate, agent
you don't have certain standards you must hold other than state. Law,
right you can't commit, fraud can't lie to, people stuff like.
That but as a, realtor you have a higher. Standard.
Right so what does that? Mean If i'm a realtor

(01:21:05):
And i'm showing your, Property, jimmy And i'm the buyer's,
AGENT i have full responsibility to keep your property and,
excellent you, know in the same condition as WHEN i walked,
in as WHEN i. Leave Because i'm a realtor and
that's a. Standard National association. Rilters, okay all, right being an,
AGENT i don't really have that. Responsibility, Right so there's

(01:21:26):
all those.

Speaker 2 (01:21:26):
Affect the, regulation, right none of that change.

Speaker 5 (01:21:29):
State, regulations but then there's a higher, regulation extra regulations
that realtors must. Uphold so you could not violate a state,
regulation but violate a National association relter, regulation and they
will censor. You they'll kick you out of the, group
or find you or do other. Things they'll sometimes refer
you to the state if they find out a problem

(01:21:51):
the state hasn't, learned they might refer you to the
state for investigation through THE.

Speaker 3 (01:21:56):
Dppr and of course you want to be that because
and you can sell yourself to people that HEY i
am ACTUALLY i have a higher, standard, Right, yeah.

Speaker 4 (01:22:06):
That's a motivation to use you as any you, know
as an.

Speaker 2 (01:22:12):
Agent.

Speaker 5 (01:22:12):
Yeah and here's another little sign That i'm, seeing because
what people don't realize is in, today in, today like
there's one point five five million rialters as of the
end of twenty twenty four in The United. States realtors
we got as high as over two. Million now we're
at one point five to, five, right so one point
five to Five no real estate, agents not just. Rilters,

(01:22:33):
okay so, everybody, right but at the one point well
maybe maybe it is. Rilters i'm not. Sure but the
one point five y five seventy percent of them last
year did one deal or less one deal or less last, year, right,
right normal In florida was between eight to, twelve and
then it slid to six to. Eight now it's like. One,

(01:22:54):
right you don't know how many agents are calling me
up trying to show my. Properties you don't have a, superbox,
right the super key that's an electronic key that only
real estate agents can get In, florida and you have
to be a. Realter, right you have to pay the
higher standard and you pay like eight bucks a, month
and you get this app in your phone that only

(01:23:16):
rilters can, get and the app that electronically communicates with
the lock box to open up the. Door now that lock.
BOX i love those lock boxes because there's security protection
for the. Seller nobody can get in that lock box
if you're not a licensed. Relter pay in the eight
ninety nine a.

Speaker 2 (01:23:33):
Month SO i, guess and it stamps it with YOUR.
Id when you win, it you pop.

Speaker 5 (01:23:39):
It gindapola From calornias walked to thirteen pm and he
locked it up at two oh nine.

Speaker 2 (01:23:45):
Pm.

Speaker 5 (01:23:45):
Right the other thing is is that so you have
all those kind of protections right, NOW a lot of
realtors what they'll do is they go down to home.
DEPOT i. DID i was guilty of this WHEN i
first started, out AND i would buy these four book
home depot lock Boxes i'm calling home depot but, anywhere,
Right and they had LIKE abcd for the codes or

(01:24:07):
one two three four for the, codes and people use them,
well anybody could use, them. Right so IF i put
one of those type of lot boxes on your house
and the realtor's lazy and they schedule the showing and
it says the code is one two three, four they
don't even have to. Go they could just call Up
jimmy the buyer and, go, Hey, JIMMY i don't feel
like going out there. Today but it's on a lock

(01:24:28):
box code to just punch in one two three four
and go take a look at the house and then
tell me if you want to buy it or. Not
and if you think rilters are not doing, that you're, crazy,
right because they do it all the time and it's.
Wrong And i'm, Sorry i'm getting on my high house,
right and it's, wrong and it's so bad for the.
Sellers and every time a rilter calls up and GOES

(01:24:50):
i had one two days ago called me on a. House,
OH i didn't realize that you're ON. SUPRA i don't
have a super? Key, right then ask, them BECAUSE i
get a little po't about. That why don't you have?
It why don't you have a super? Key? OH i
just now to get around to doing. IT i, go
it's eight ninety nine. Dollars it's eight dollars ninety nine

(01:25:10):
cents a. Month you can't afford one hundred bucks a
year to make sure that houses are protected that you're
showing or that you're. Listing, yeah, RIGHT i, go you
can't do. That and they they all make the same
excuse if they can't afford eight ninety nine a month
for the lock, box and you're hiring that realtor to
be your, realtor and people have no idea about this

(01:25:32):
little like little insider. Stuff, sure people have no idea
that you're supposed to sign those. Agreements realtors that were always.

Speaker 2 (01:25:39):
How much they care about your property by the.

Speaker 5 (01:25:41):
Way, yeah, YEAH i really care about your. Property make
sure it's secure and making sure that no ne'er do
wells come into your. Property let me go to home
depot and go pay twenty five bucks and turn. It you,
know put in this. Code you know it's. Ridiculous and
then the the other thing people don't get is if
you ask a buyer's agent or a agent to show

(01:26:01):
you a house and they say they want to fill a,
form most buyers do not want to fill that. Form
they do not want to fill that form. Out they
don't want to be tied in with the person and all.
That my team has always signed buyer's agreements way before
they required BECAUSE i wanted to people understand what they were.
Doing BUT i also want to understand you're hiring me full.

(01:26:24):
Time if you find something on the, street you find
it on. ZILLO a neighbor's, friend a friend of friends
said there's a perfect house for. You i'm still your.
Agent that's why you're hiring. Me so when you don't
want to sign the, document there's so many realters that
will go okay because they're afraid to have that. Talk
now with the guy THAT i talked to you about

(01:26:45):
before who ended up buying the house With mike and not.
Me they found the house with another relter and. EVERYTHING
i don't care THAT i let that one. Go i'm
not risking five thousand dollars for. Anybody and to, him
it wasn't a big deal because he's not at risk
to pay the five, thousand which told me how much
he cared about. Me AND i did all these deals for,
him helped his family out, many, many many. Times but

(01:27:07):
when it came pushed the shove to have my, back he.
Didn't SO i was, LIKE i don't need to work with.
YOU i got plenty of other people that care about
me AND i care about, them And i'd rather work
with those kind of people than you telling, me, Oh,
jim don't worry about. It you know risks loosing five thousand, dollars,
right it's not my five thousand. Dollars, yeah what do

(01:27:27):
you care? About? Right and this was the kind of
guy that always cut corners, anyway anytime there was a
way to get an edge on, somebody he. Did so
the thing was SO i kind of knew that's WHY
i put my hand foot my foot in the. Ground i'm,
SORRY i.

Speaker 2 (01:27:42):
Know we have a.

Speaker 4 (01:27:42):
Call, actually what we do have a. Call we're gonna
get to a J.

Speaker 5 (01:27:45):
Holman, okay, GREAT i wanted to.

Speaker 2 (01:27:47):
Get in his, conversations.

Speaker 3 (01:27:49):
Mcgali also, asked how did how can you tell the
difference between and just an agent and a real estate.

Speaker 5 (01:27:57):
Oh a, realtor. Realtor, yeah There's, well the first thing
you do is you can ask them are you a
realtor or a license? Agent that's the first. Thing the
other thing you do is go to the brokerage and ask,
them or you can go to The National association Of
realtors and look up their members and see if they're
an active member with.

Speaker 2 (01:28:17):
Agree and that's if you you, know you hear about
the lawsuits Nar National association Or. Realtors the nice thing
is you can go there and find out who's on that. List,
yes so we go there and put In Jim depoula
and it'll be like, yep.

Speaker 5 (01:28:31):
Yep and you also can actually go In, florida you
could actually go to The department Of business And Professional
regulation and see how many complaints if any realtors had
like thank, God i've had, none, okay and the thousand
Transactions i've. Done But, rob my old business, partner he
did get a complaint and he. Won he dreamed, them

(01:28:51):
but was a guy who was doing short. Sale he
wouldn't fill out any of his. Paperwork then he lost
the house to. Foreclosures so what does he. Do he
files a plate Against rob for not doing his.

Speaker 6 (01:29:00):
Job.

Speaker 5 (01:29:01):
Right rob did, Everything we had everything documented right and uh.
It so what happens is there's a preliminary view from
DPP r just to see if it's even a legitimate,
complaint and he got spit.

Speaker 2 (01:29:13):
Out see about that.

Speaker 5 (01:29:14):
One it Wasn't it didn't even get past, that but
it was still on his, record, Right, yeah but but
it showed that he was completely clear.

Speaker 2 (01:29:23):
On the record that there was nothing, here.

Speaker 5 (01:29:25):
Right, yeah, yeah that would be.

Speaker 2 (01:29:30):
GREAT Aj Holman Experience appraiser dot. Com, hello my, friend
how are you on This?

Speaker 6 (01:29:34):
Saturday good, Morning good, morning pretty good.

Speaker 5 (01:29:38):
Guys, hey, hey. Congrats mike had told me, Yesterday Mike
crow from the mortgage firm told me yesterday that you
got that one deal, done no, problem AND i know
you texted me. Too he was.

Speaker 6 (01:29:50):
Happy, Also, yeah he got the government program on that one,
Too so that that helped a. Lot with the move.

Speaker 5 (01:29:57):
IN aj was closing to deal With Mike row for
ont of AJ's buyers and they were using a government.
Program everything was going through, smooth but then they had
a delay for the closing. Date so they had to
push that back the closing date a couple of. Days
and it was only two it was only like two
or three.

Speaker 6 (01:30:15):
Days but it just it just made, it you, know
it made a difference this.

Speaker 5 (01:30:18):
Time, well, legally that's WHAT i. Wanted that's the POINT
i was trying to make is, legally under the, contract
if they didn't close by that last day that was
in the, contract the seller could have kept the buyer's
deposit and told, them too, Bad i'm not selling you the.
House they could have done, that, Right SO aj was
very concerned about. That they didn't do, that but that's

(01:30:41):
what could have.

Speaker 6 (01:30:41):
Happened, yeah they needed to sell. It they needed to
sell it as bad as we needed to buy. It
just you, know sometimes that last second away can you,
know really.

Speaker 5 (01:30:50):
Hurt, well thank god you had a reasonable a reasonable
seller and was willing to wait a couple lecture. Days
no big.

Speaker 6 (01:30:57):
Deal, yeah it wasn't too. Bad so that the REASON
i was calling is just AND i know you know, This,
jim but you guys just hadn't mentioned it with the
new commission. Structure the whole problem is that the buyer
doesn't have the. Money they're they're in the middle of

(01:31:18):
their you, know you're scraping by the average cost of
a home is that half a million dollars in our,
county and they don't have an extra fifteen ten thousand
dollars to chip in at that. Moment they're trying to
work up a down, payment moving, costs everything. Else and
that's the biggest impact of this, rule you, know is

(01:31:39):
the buyers don't have the.

Speaker 5 (01:31:41):
Cash that kind Of that kind of gets to What
johnny was. Saying So johnny was saying, EARLIER i kind
of got off. Track he was, Saying, well IF i
wanted the house AND i was being told that my
buyer's agent wasn't being paid by the, seller so THEREFORE
i couldn't buy the. House he, Goes i'm not going
to let that stop. Me i'm gonna buy that.

Speaker 4 (01:32:02):
Ouse but what you have to.

Speaker 5 (01:32:03):
Understand is you've signed an agreement saying you've already agreed
to a commission that would be, paid and if the
seller wasn't paying, it you've agreed in that contract to pay.
It so if you decide not to do, that you'd
be breaching the contract that you, signed and the buyer's
agent could have legal recourse against.

Speaker 2 (01:32:23):
You, yeah and that's which is a horrible situation where the,
consumer you have to be well aware that that's probably
not the best contract to. Sign your commission is, negotiable
and the contract you shine should say negotiable based on.
PROPERTY i might pay you three percent on that one
AND i might only pay you one percent on that,
one and it is all going to depend on the, property,

(01:32:45):
Right and that should be if you're a savvy. Consumer
the way the contract is written. Out, again you don't
know what you don't know, Though AND i think that
was the big part is many people didn't realize these
commissions are, negotiable always have, been, Yes but but but.

Speaker 6 (01:33:03):
If you're making them negotiated up front before you know the,
situation which is effectively what you're, doing, Right and think about,
This you qualified for the, loan was that part of
your loan, qualification, right because now you might not be
qualified a?

Speaker 5 (01:33:19):
Right, yeah BUT i don't even think about right stretching.

Speaker 2 (01:33:22):
Limits you might not have enough.

Speaker 5 (01:33:23):
Cash reserves to make up the. Difference SO i DON'T
i think you. Know and the other thing that they're
not taking consideration OF i think in the big, picture is, that,
yes the sellers are paying a buyer's agent, fee and
that's system's work for almost one hundred, years that's been
been DOING i, SIN i think since nineteen thirteen or.
Something they that's the way the system has. Been seller

(01:33:46):
pays buyer's agent. Fee, right unless otherwise, stated that's kind
of the. Expected, oh it's been.

Speaker 6 (01:33:53):
Forever.

Speaker 5 (01:33:53):
Like so when you buy a, house, right you're getting
that benefit right of not having to pay anything and
getting Reput i'm talking about, hypothetically you're you're getting representation
without having to pay for the. Representation is the seller
is paying it for. You but when you go to,
sell when that same person who bought the, house when
they go to sell it, later they're gonna end up

(01:34:15):
making up that money that they save because now they
have to pay the other person's buyer's. Agents in the long,
run after all these buys and, sells it kind of washes, out,
right you, KNOW i would think it kind of washes.

Speaker 2 (01:34:27):
OUT i guess in a perfect, world as a, buyer
when you sell that, home you probably will end up
paying more than your original like, savings because in a perfect,
world you're selling it for far more than what you bought,
it and the commission you're paying is considerably. More so
in a perfect world you're, like, MAN i HOPE i
pay a lot more commission WHAT i just saved WHEN

(01:34:50):
i sell this.

Speaker 5 (01:34:50):
House, yeah because the house is worth, more it was worth, more.

Speaker 2 (01:34:54):
Right, yeah, yeah, yeah so that's.

Speaker 6 (01:34:56):
True that's.

Speaker 5 (01:34:56):
True, Yeah so you're right about having the buyers strug
goal with paying. That but then what happens is what they're.
Forcing they're forcing the listing agent to either represent somebody
without being paid and having all the legal liability for, it,
right and then they can be sued by the buyer

(01:35:17):
even though they weren't hired by the. Buyer the buyer
just kind of came to the property that the listing
agent wanted to sell unreasonable or what could happen is
is the listing agent tells the, Buyer i'm not representing
you at. All i'm not going to be your. Agent
you're on your, own And i'll walk you through the,

(01:35:37):
contract meaning like help you with the contract being signed and,
everything but as far as meeting all the deadlines and
everything and all your responsibilities about inspection and, appraisal if
it's need and all, that you got to deal with
that on your own Because i'm not going to be
your agent for, that.

Speaker 2 (01:35:53):
Right and like a transaction.

Speaker 5 (01:35:56):
Coordinator, yes, yeah, yeah and that might end up happening
where the. BUYER i didn't even think about, that but
some listing agents might, Say, LOOK i don't want to represent, You.
Johnny you're going to be your own guy if that's
the way you're going to, be, Right because my seller
isn't paying your buyer's broker's fee and you, don't so
you don't want to pay pay it, yourself so you're

(01:36:17):
on your, Own. Johnny But i'm going to charge you
five hundred dollars And i'm going to walk you through
all the contract And i'll give you the deadlines when
your appraisal is supposed to, happen when your inspection is
supposed to. Happen make sure you do your survey and
make sure you hit all those timelines so you don't
preach the contract, right and then charge you a flat

(01:36:37):
fee for, it, Right but you're not really getting full
representation at, It and then who's negotiating for? You, yea
you are, right you're negotiating by. Yourself SO i don't
really feel like the way they fix. It it's like
that famous thing That rob used to. Say what's that famous,
saying where the government and we're here to help? You
That reagan saying right that where their government we're here

(01:36:58):
to help you? THING i feel like that's what happened with,
this AND i almost feel like it it didn't really
have an impact that they thought it was going to.
Have but if we were in A covid market where
we had zero point nine months of inventory and everybody
was getting ten to fifteen, offers that would have rocked
the real estate agency market like, crazy because most of

(01:37:23):
those buyers agents weren't going to be paid at.

Speaker 2 (01:37:25):
All good it would have.

Speaker 6 (01:37:28):
Priced it would have priced a lot of buyers like
it was already hard to get your offer. Accepted you
would be priced out on your upfront cash because you
wouldn't have enough money again to pay your. Realtor and
if the sellers just doesn't want to do, it then
you just don't get a, house you know WHAT i.
Mean it's not that you're going to get it for.

(01:37:48):
Less they're just going to go to the other. GUY
i don't know how to put that the. BUYERS i
just don't feel like the buyers are being. Served like you,
SAID i just don't think it's meeting the. Intention and
it reminds me of when they redid all the appraisals
with THE, hvcc and they were supposed to make everything more,
independent and it was horrible for the.

Speaker 5 (01:38:09):
Industry it was did they keep? It did they keep those?

Speaker 6 (01:38:13):
Regulations a lot of them they, did but the main
thing was about putting a layer between the appraiser and
the loan officer by putting it by putting a management
company in. Between but they became profit.

Speaker 5 (01:38:29):
Centers so the management company they were, selecting which which
appraiser came out like before it used to. Be from
where you, stand like the mortgage broker had like a
top appraiser that they love working with because the appraiser
always gave him the number they, needed, right so they
would call UP aj and That i'm talking about a
long time. Ago i've talked about, no, no, No But

(01:38:53):
i'm in.

Speaker 6 (01:38:53):
The industry a lot time. Though but that's the cynical. View,
yes And i'm sure that there was some of that going,
on but it's just like right, now you use the
vendors you used because they're the. Best they're the ONES
i believe they're going to do the best job for your.
Client right one of the one of the best loan,
officers loan officers THAT i worked with for, years the

(01:39:15):
very first style for, HIM i flagged the roof and
stopped the loan and he, said you know, what you're
an honest. Appraiser i'm using you from. Now so it
didn't always work that way that it's a typical, way you,
KNOW i never Met if people try to push us
around out, numbers we usually as, appraisers we just don't
deal with them in AND i don't want. TO i

(01:39:36):
don't want somebody trying to muscle me into doing a certain.
NUMBER i don't care how much business they give.

Speaker 5 (01:39:40):
Me BUT aj is built like, Us. Johnny And i'm
telling you as an, investor like three to, nine there
were TONS i knew as an investor working with loan
officers that had their, Oh i'm going to give this
particular deal to this person because he'll get me the

(01:40:01):
NUMBER i. Need and they used to openly talk about
it the right so that happened a. Lot, Yeah but
now that didn't mean everybody acted like, that. Right that
didn't mean that you acted like that LIKE i don't
Like i'll make people sign buyer's, agreements, right and if
they don't want, To i'm, Saying i'm. Sorry even Though
i've been working with you three or four, DEALS i

(01:40:21):
can't do it. Anymore because that's the new. Regulation i'm
going to comply with. It BUT aj since since we
got you on, today BECAUSE i didn't know until late
yesterday that everybody was going to, GO i was going
to ask you if you wanted to come on today.
Anyway you mentioned some stuff that you were seeing statistically
to me about ten days. Ago do you want to

(01:40:42):
just bring that up real? QUICK a couple of things
that you noted about the changes in the statistics in the.
MARKET i did.

Speaker 6 (01:40:52):
Actually run some stuff On standlewood BEFORE i, call just
because she did ask me just as an. Example we're
good BECAUSE i love using that, one And i'd say
it's it's very similar to WHAT i see all across the.
Board the inventory's way, up it's tripled what it was
a year, ago but the sales volume is, increased especially

(01:41:17):
the last few. Months and by the way that increase in.
Inventory it's so it's. Consistent you can see it on the.
Drafts it's just up.

Speaker 2 (01:41:26):
Up but.

Speaker 6 (01:41:29):
You, KNOW i was looking at the sales prices in,
there and statistically they had a little bit of a drop.
Recently but Then i've looked at that and a lot
of those recent sales were kind of beat up for
at the dated. Ones and WHEN i looked at what
was on, marketing what was available, today it was stuff
that was in the price range from sixty to ninety days.

(01:41:50):
Ago so it's. Steady it's just still people aren't really
dropping their, price but you can find. Deals but on
average there's a lot of, inventory but people don't need
to sell like it was back when things. Crashed that's the.
Difference you, know they're just not as motivated like they.
Were some of them are not that, many not enough

(01:42:11):
to cause the values to. Erode of, course it depends
on the sun. Market you, know the fifty five and older,
condos those have been getting beat. Up anybody who's been
getting these really high agent way, fees like my, Cousin
i'll tip five. Place he's on a fix thing. Company
he's On Social security sixteen hundred a month or whatever it.
Is the h eight sees at some of these places

(01:42:33):
are eight or nine hundred a, month or these little
fifty five and older cheek. Condoms somebody wants to, Think.

Speaker 5 (01:42:39):
Yep it's that part is really. Crazy the other THING
i Want i'm hoping you're gonna keep an eye on
this is we're getting to scuttle but now that the
inventory is starting to shrink a little. Bit, now so
we were seeing this ballooning of the, inventory BUT i
think last month's inventory was slightly, Down like the last

(01:43:02):
monthly report was slightly down compared to a year ago
and compared to the month. Before and supposedly that's because
all these people that have been on the market forever
didn't get the price they wanted and they're leaving the.
Market it isn't that more sales are. Happening it's that
people are pulling off stale. Listings. Ye well, yeah SO

(01:43:23):
i want to see if that's a trend or. Not
we're not at a trend, point but it is a
blip That i'm keeping an eye on right.

Speaker 6 (01:43:29):
Now, WELL i mean for consistent. Trends the most consistent
THING i see right now is that bills volume has
been elevated for the last three months compared to the
rest of the.

Speaker 5 (01:43:42):
Year and when you say, sales you mean the amount of, sales,
right the amount of, sales not the price of. Sales,
yeah the number is said right, Right.

Speaker 6 (01:43:50):
I'm talking about, Inventory and LIKE i, said the inventory
IS i don't see it going down in my stats
That i've been. Running but that mean again at certain sub.
Markets AND i don't consider new construction because that's not
in my statistics of WHAT i look, at and that
drives a lot of the market too THAT i DON'T

(01:44:13):
i don't have visibility to. That.

Speaker 5 (01:44:16):
Yeah i'm going to be going up to Central florida
in about a week and a half to help one
of my, Customers, brian buy a new construction home up
in The okalla, area And i'm hoping we're going to
get really good results Because i'm, like here's a headline FROM.
Cnbc home builders are slashing prices at the highest rate
in three. Years. Right this has happened all over the.

(01:44:37):
Country the builders are really jonesing right, now and people
don't realize. It there are a lot of people are
like half the PEOPLE i talk to are surprise when
you mentioned, this and the other people LIKE i know
that holding the.

Speaker 2 (01:44:48):
Bag, yeah we.

Speaker 5 (01:44:50):
HAD i wanted to Get lisa And. Kevin maybe they're listening,
today maybe, not BUT i want to get them on
because a few months ago helped them sell their house
and they moved To Palm BAY i think it Was,
pombay but they ended up getting forty thousand dollars below
the list price right and got money for closing costs
and down, payment and got a reduced interest, rate just

(01:45:13):
Like michael And coleen did In orlando recently with a
new construction. Home and you can get the triple whammy
now and get the three, things lower, price closing, costs
and lower interest rate from these new construction developers if
you go out. There, yeah, yeah.

Speaker 4 (01:45:30):
That's, nationwide. HUH i Mean FLORIDA i can see because
we really kind of. Developed it's just so, much so.
Fast this inventory really took.

Speaker 5 (01:45:39):
Off, yep it's. Definitely it's definitely. Nationwide And florida And
texas are worse than some of the other parts of
the country without a. Doubt but it's happening all over.
Now there are pockets that are. STRONGER i think the bread,
basket you, Know, Kentucky Kentucky. Nebraska that kind of, thing

(01:46:00):
those those breadbasket. STATES i hear they're doing, okay and
a lot more people are moving to those areas for.
Affordability now, interesting, RIGHT i think that's kind of interesting
because you don't hear those states normally as the place
you're moving, to but it's specifically bad In, florida.

Speaker 2 (01:46:16):
And when you, do they're, Like i'm moving To. Nebraska,
YEAH i.

Speaker 5 (01:46:20):
REMEMBER i remember one of my friends. Left the journalist
left a, journalist some job in The Palm Beach post
and moved To. Alabama, No. Mississippi he moved To mississippi
to work at The Mississippi. Paper his wife literally broke
down and cried for like three weeks that she was

(01:46:40):
moving To mississippi and they getting a divorced because she
did not Like. Mississippian he, stays he's got some great
spots And i'm not so great.

Speaker 2 (01:46:52):
Spots you, know let's be. Fair, HEY J it's always
a pleasure to have you on. MAN i hope you
have a great rest of your. Weekend thanks.

Speaker 6 (01:47:01):
Guys if you have a great, take.

Speaker 5 (01:47:02):
Yeah thank.

Speaker 2 (01:47:03):
YOU i want you to let everybody know where they
can reach out to. You they need an amazing Appraiser.

Speaker 6 (01:47:09):
Experienced appraisers Dot.

Speaker 5 (01:47:11):
Com i'm experienced with the d at The endoppraisers Dot.
Com AND aj, my the person we're going to go
see in that house In West. Palm you sent me
a message esterday, Saying, hey you're coming over at ten.
Right i'm, like, no that's the, Eighteenth so, anyway he's.
Ready just so you, Know, okay.

Speaker 6 (01:47:32):
That's the same that's the same loan. Officer it was
the guy THAT i told had a bad.

Speaker 5 (01:47:37):
Ruth, yep, yep very. Cool, yeah that is. Cool have
a great. Weekend H i appreciate, you.

Speaker 2 (01:47:44):
Buddy there's A J Holman Experience appraisers dot. Com and
again one of the amazing resources part of the team
floridatokreal estate dot. Com when you need a prose pro
remember floridatalkre estate dot com and we can give you
amazing referrals as. WELL aj is definitely. Qualified as, such
we have very limited.

Speaker 5 (01:48:03):
Times, YEAH i just wanted to just mention one of
the things about new. Construction thirty eight percent of the
builders nationwide said they cut prices In july thirty eight percent,
Surveyed so it's really. Happening it's a very big dynamic right.
Now i'm telling you, guys it's a great time to buy.
NOW i keep telling everybody it really is a good
time to.

Speaker 3 (01:48:23):
Buy it's just weird because every now and then you
read an article where they say that there.

Speaker 4 (01:48:28):
Still isn't enough housing for In america and we have
to build.

Speaker 2 (01:48:33):
More there's plenty of. It what they need is affordable.

Speaker 4 (01:48:36):
Housing, yeah well there's that.

Speaker 2 (01:48:37):
Too, yeah so. True we don't have any affordable. Housing
we have plenty of. Housing it's just not very. Affordable
although it looks like it's slipping more into that. Realm
we just gave an example of the trouble whammi for
somebody and the.

Speaker 5 (01:48:53):
Motivation you have motivated, builders, right and you also have motivated.
Sellers so not everybody's. Motivated so that doesn't mean you're
going to get a deal in any house that's on
the market. Motivated if you sift, through pick and choose
through all the properties and you start going through, them
you're gonna find those deals out there for.

Speaker 2 (01:49:11):
Sure, yep they are to be. Had and you know
you also need to be, positioned, like don't just make
up your own mind that you can and can't afford
understand what your numbers. Are let that dictate what exactly
your next move. Is don't just let the interest rate
be the determining. Factor, yes it is a, factor but
the reality is is you have to incorporate so much

(01:49:33):
more from your taxes to your insurance down, payment you're closing, costs,
like all these things matter and there's way to attack
all of. It what you need is guidance from professionals pros.
Pros and the good news is if you're listening right,
now you're well aware you have access to just. That
it's floridatokrealestate dot, com the one stop real estate. Shop

(01:49:54):
we've called it that for a long time, now thirteen
plus years. Now for a, Reason, well it's because you
get a pros. Pros these are experts in their, field
and it is. Amazing if you've ever bought a, home
sell a, home, sold a, home sell a home sold
a home, stuck was stuck with a home you didn't
know what to, do and you've worked with the team you,
know and you've seen how they work cohesively. Together they

(01:50:15):
pick up the, phone they get, answers they're boom on
it with each other and it's a different place than
kind of stumbling through with somebody you hope knows what they're,
doing versus going through it with people that you know
absolutely have your best interest at heart and know exactly
what's going. On they've been through the, markets they've been
through the. Changes they write it out every. Day they're

(01:50:37):
in the. Trenches experience for yourself floridatokreestate dot, com On
facebook and. YouTube It's Florida talk Real. Estate no we use,
it love, it share. It, jimothy have a great, weekend my, dude.

Speaker 4 (01:50:46):
You as, Well, Johnny thank you very. Much jim have
a great weekend as, well and thank you for.

Speaker 5 (01:50:51):
Listening thanks, Guys Happy South.

Speaker 2 (01:50:52):
Florida good luck and whatever you get. INTO i hope
you have a LITTLE r AND r and again lots of.
Luck if there's any cards coming your way this, week
you get first luck to be able to sit down
and play some and then luck to be able to
take some of that cash.

Speaker 5 (01:51:06):
Away world flush should be.

Speaker 2 (01:51:07):
Nice oh, okay we're not at all always a. Pleasure
you're gonna aim. High, yeah.

Speaker 3 (01:51:18):
Full house Real estate locker room has got a lock
to get.

Speaker 2 (01:51:23):
Into and thanks for being with a stick around the
Locker room is next With Florida talk Real. Estate we'll
be back Next, Saturday Florida talk Real estate right here
On Real. Radio